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Hong Kong SAR, China - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Oct 16, 2023

Groundnut Oil Price in Hong Kongs Increases Modestly, Reaching $2,737 per Ton

Hong Kong Groundnut Oil Import Price in June 2023

In June 2023, the groundnut oil price stood at $2,737 per ton (CIF, Hong Kong), with an increase of 11% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 17% month-to-month. As a result, import price reached the peak level of $2,828 per ton. From February 2023 to June 2023, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($3,403 per ton), while the price for China amounted to $2,710 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Hong Kong Groundnut Oil Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Groundnut Oil in Hong Kong (USD per ton)
Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023
United States3,2883,0012,8383,001N/AN/A3,1523,4303,3363,5713,5963,5863,403
China2,5292,4722,6622,7062,6542,5062,6192,5342,4252,4982,6722,8092,710
Nicaragua1,9831,9771,9631,9722,1262,0131,993N/A1,9781,9621,9862,005N/A
Average2,4502,4272,4442,4582,4382,2822,4092,8282,4232,5072,5632,4672,737

Hong Kong Groundnut Oil Import Prices by Type

Average prices varied noticeably amongst the major supplied products. In June 2023, the product with the highest price was crude groundnut oil ($2,855 per ton), while the price for refined groundnut oil totaled $2,732 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by crude groundnut oil (+2.7%).

Hong Kong Groundnut Oil Imports

In June 2023, overseas purchases of groundnut oil decreased by -50.4% to 492 tons, falling for the second consecutive month after three months of growth. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in July 2022 when imports increased by 40% against the previous month. As a result, imports attained the peak of 1.3K tons. From August 2022 to June 2023, the growth of imports remained at a lower figure.

In value terms, groundnut oil imports contracted sharply to $1.3M (IndexBox estimates) in June 2023. Over the period under review, imports recorded a perceptible descent. The most prominent rate of growth was recorded in July 2022 when imports increased by 38% m-o-m. As a result, imports reached the peak of $3.2M. From August 2022 to June 2023, the growth of imports remained at a lower figure.

Hong Kong Groundnut Oil Imports by Type

In June 2023, refined groundnut oil (475 tons) was the main type of groundnut oil supplied to Hong Kong, accounting for a 96% share of total imports. Moreover, refined groundnut oil exceeded the figures recorded for the second-largest type, crude groundnut oil (18 tons), more than tenfold.

From June 2022 to June 2023, the average monthly growth rate of the volume of import of refined groundnut oil stood at -1.8%.

In value terms, refined groundnut oil ($1.3M) constituted the largest type of groundnut oil supplied to Hong Kong, comprising 96% of total imports. The second position in the ranking was taken by crude groundnut oil ($51K), with a 3.7% share of total imports.

Hong Kong Groundnut Oil Imports by Country

In June 2023, China (455 tons) was the main groundnut oil supplier to Hong Kong, with a 92% share of total imports. Moreover, groundnut oil imports from China exceeded the figures recorded by the second-largest supplier, Belgium (22 tons), more than tenfold.

From June 2022 to June 2023, the average monthly growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Belgium (+2.3% per month) and the United States (-15.7% per month).

In value terms, China ($1.2M) constituted the largest supplier of groundnut oil to Hong Kong, comprising 91% of total imports. The second position in the ranking was taken by Belgium ($62K), with a 4.6% share of total imports.

From June 2022 to June 2023, the average monthly growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Belgium (+0.1% per month) and the United States (-15.5% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the groundnut oil market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 244 - Oil of Groundnuts

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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