What is the price of tallow fat per kilogram/pound in South Korea today?
The retail price range for South Korea tallow fat is between US$ 1.02 and US$ 2.48 per kilogram or between US$ 0.46 and US$ 1.13 per pound(lb). Click here to see today's exact prices of tallow fat in South Korea
The retail price range in South Korean won for tallow fat is between KRW 1,361.18 and KRW 3,307.55 per kilogram or between KRW 617.32 and KRW 1,500.02 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea tallow fat is between US$ 0.71 and US$ 1.74 per kilogram or between US$ 0.32 and US$ 0.79 per pound(lb).
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South Korea Tallow Fat Export Prices - Historical, Trends and Prediction
The export price per kilogram of Tallow Fat from South Korea has seen a steady increase over the last five years. In 2017, the price was 0.81 US $ per kg, followed by a decrease to 0.68 US $ per kg in 2018. In 2019 and 2020, the price remained steady at 0.67 and 0.72 US $ per kg respectively. 2021 saw a significant increase to 1.03 US $ per kg, and in 2022 the price rose to 1.49 US $ per kg. Based on this trend, it is predicted that the export price per kilogram of Tallow Fat from South Korea will be 1.54 US $ per kg in 2023 and 1.99 US $ per kg in 2024.The tallow fat exports from South Korea are categorised as:
- Fats of bovine animals, sheep or goats (excluding lard stearin, lard oil, oleostearin, oleooil and tallow oil, not emulsified or mixed or otherwise prepared) (HS code 150200)
- Tallow of bovine animals, sheep or goats (excluding oil and oleostearin) (HS code 150210)
- Fats of bovine animals, sheep or goats (excluding tallow, oleostearin and oleo-oil) (HS code 150290)
South Korea Tallow Fat Import Prices - Historical, Trends and Prediction
The import price per kilogram of Tallow Fat into South Korea has seen a fluctuating trend over the last five years. In 2013, the price was 0.80 US dollars per kg, which increased to 0.92 US dollars per kg in 2014. However, the price dropped to 0.71 US dollars per kg in 2015 and further decreased to 0.67 US dollars per kg in 2016. The price then rose to 0.81 US dollars per kg in 2017 and dropped again to 0.68 US dollars per kg in 2018. The price remained steady at 0.67 US dollars per kg in 2019 and increased to 0.72 US dollars per kg in 2020. In 2021, the price rose to 1.03 US dollars per kg and further increased to 1.49 US dollars per kg in 2022. Based on this trend, it is predicted that the import price per kilogram of Tallow Fat into South Korea will be 1.76 US dollars per kg in 2023 and 2.03 US dollars per kg in 2024.Export values for South Korea tallow fat
The total values in export for tallow fat in South Korea were US$ 1,921, US$ 1,653, US$ 1,431 and US$ 1,350 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Meat category in South Korea: Pork, Mutton, Goat Meat, Horse Meat, Chicken Meat, Turkey Meat, Duck Meat, Geese Meat, Guinea Fowls Meat & Rabbit Meat.
See prices of tallow fat in other countries across Asia: Kazakhstan tallow fat, Kyrgyzstan tallow fat, Tajikistan tallow fat, Turkmenistan tallow fat, Uzbekistan tallow fat, China tallow fat, Hong Kong tallow fat, Macao tallow fat, North Korea tallow fat & Mongolia tallow fat.
South Korea tallow fat - Production, Exports, Imports, Seasons and HS Codes
The quantity of tallow fat exported by South Korea in 2020 was 4,406 tons. In 2019 South Korea shipped 2,010 tonnes of tallow fat. For 2019 alone, the demand for South Korea tallow fat (meat category) has gone down, flactuating by -4.513 per cent compared to the year 2018. Between 2017 and 2019, tallow fat's exports reduced by -1.47 pc bringing the country US$1.35m for the year 2019. South Korea's tallow fat exports are categorised as:
- Tallow of bovine animals, sheep or goats (excluding oil and oleostearin) (HS code 150210)
- Fats of bovine animals, sheep or goats (excluding lard stearin, lard oil, oleostearin, oleooil and tallow oil, not emulsified or mixed or otherwise prepared) (HS code 150200)
- Fats of bovine animals, sheep or goats (excluding tallow, oleostearin and oleo-oil) (HS code 150290)
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South Korea tallow fat export values
In 2019, South Korea shipped tallow fat costing 1.35m USD, a decrease of -5.66% from 2018's total tallow fat export of 1.431m USD. The yearly change in value of South Korea tallow fat between 2017 to 2018 was -13.43%.
The yearly variation in the volume of South Korea's tallow fat exports between 2017 and 2019 was -1.47 percent compared to a variation of -4.513% in the period between 2018 and 2019.
South Korea's portion of the world's total tallow fat's exports in 2019 was less than 1%. South Korea holds number 70 in world exports of tallow fat.
Export markets for South Korea tallow fat ( in '000$ )
South Korea's top destinations for tallow fat are Japan, New Zealand and Singapore.
Import/Export Trends
South Korea is a net importer of tallow fat. The annual growth of South Korea tallow fat in value between 2015 to 2019 was -15%, per annum, while annual growth in quantity was -15%, per annum.
South Korea bought 13,425 tonnes of tallow fat in 2019.