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    Home > Food News > Food Articles > South Korea's average price of imported wheat in March exceeded $400 per ton

    South Korea's average price of imported wheat in March exceeded $400 per ton

    • Last Update: 2022-05-10
    • Source: Internet
    • Author: User
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       Yonhap News Agency, Seoul, April 20.
    According to the South Korean Customs Service (
    Customs ) and the food industry on the 20th, South Korea imported 429,000 tons of wheat
    and mixed wheat (HS code 1001) in March, with an import value of 172.
    45 million US dollars .
    The average import price per ton was 402 US dollars, an increase of 8.
    8% month-on-month, and exceeded 400 US dollars again after 13 years and 3 months after the 2008 financial crisis

    .
     
      The import price per ton increased by 41.
    4% year-on-year, and compared with March 2020, when the new crown epidemic broke out, it increased by 54.
    3%

    .
    The situation in Russia and Ukraine and rising sea freight rates drove the price of wheat soaring

    .
    South Korea mainly imports feed wheat from Russia and Ukraine, and edible wheat is imported from the United States, Canada, Australia and other places

    .
    In terms of importing countries, South Korea imported 165,000 tons of wheat from the United States in March, with an import value of US$78.
    48 million, at US$475 per ton, Canada at US$452 and Australia at US$360

    .
     
      The rise in imported wheat prices will be transmitted to the prices of wheat-based food and feed, increasing the upward pressure on South Korean prices
    .
    According to the monitoring of “True Price”, the price information platform of the Korea Consumer Institute, the average price of knife-cut noodles in Seoul in March was 8,113 won (about RMB 41.
    8) per bowl, an increase of 8.
    7% year-on-year

    .
    This is the first time that the price of knife-cut noodles in Seoul has exceeded 8,000 won

    .
    The average selling price of cold noodles in Seoul was 9,962 won per bowl, up 9.
    7% year-on-year, and Jajangmyeon was 5,846 won, up 9.
    4% year-on-year

    .
     
      According to observations, affected by the prolonged war in Ukraine and bottlenecks in the international supply chain, the import price of wheat will continue to rise in the next period of time
    .
    (Finish)
    customs food import wheat
     
      The import price per ton increased by 41.
    4% year-on-year, and compared with March 2020, when the new crown epidemic broke out, it increased by 54.
    3%

    .
    The situation in Russia and Ukraine and rising sea freight rates drove the price of wheat soaring

    .
    South Korea mainly imports feed wheat from Russia and Ukraine, and edible wheat is imported from the United States, Canada, Australia and other places

    .
    In terms of importing countries, South Korea imported 165,000 tons of wheat from the United States in March, with an import value of US$78.
    48 million, at US$475 per ton, Canada at US$452 and Australia at US$360

    .
     
      The rise in imported wheat prices will be transmitted to the prices of wheat-based food and feed, increasing the upward pressure on South Korean prices
    .
    According to the monitoring of “True Price”, the price information platform of the Korea Consumer Institute, the average price of knife-cut noodles in Seoul in March was 8,113 won (about RMB 41.
    8) per bowl, an increase of 8.
    7% year-on-year

    .
    This is the first time that the price of knife-cut noodles in Seoul has exceeded 8,000 won

    .
    The average selling price of cold noodles in Seoul was 9,962 won per bowl, up 9.
    7% year-on-year, and Jajangmyeon was 5,846 won, up 9.
    4% year-on-year

    .
     
      According to observations, affected by the prolonged war in Ukraine and bottlenecks in the international supply chain, the import price of wheat will continue to rise in the next period of time
    .
    (Finish)
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