Hong Kong SAR, China - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong's Maize Oil Imports Drop Dramatically to $9.8M in 2023
Hong Kong Maize Oil Imports
In 2023, imports of maize oil into Hong Kong fell to 5.4K tons, declining by -13.6% against 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 37% against the previous year. As a result, imports reached the peak of 8.2K tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, maize oil imports shrank rapidly to $9.8M (IndexBox estimates) in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 47%. Imports peaked at $13M in 2022, and then fell rapidly in the following year.
| COUNTRY | Import Value of Maize Oil in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 3.1 | 1.6 | 2.2 | 3.3 | 3.6 | 4.9 | 2.3 | 6.4 | 8.5 | 10.0 | 5.0 |
| Spain | 1.2 | 0.6 | 1.0 | 1.9 | 1.3 | 0.1 | 0.9 | 0.6 | 0.6 | N/A | 2.4 |
| Malaysia | 1.7 | 1.7 | 1.9 | 2.0 | 1.8 | 2.0 | 1.7 | 1.9 | 2.0 | 1.7 | 1.7 |
| Singapore | 0.5 | 1.6 | 1.2 | 1.1 | 1.1 | 1.0 | 0.9 | N/A | N/A | 0.2 | 0.7 |
| South Korea | 2.3 | 2.9 | 2.8 | 1.3 | 1.1 | 0.8 | 1.8 | 2.3 | 0.7 | 1.2 | N/A |
| Others | 0.2 | 0.1 | 0.3 | N/A | 0.1 | N/A | N/A | 0.1 | N/A | N/A | N/A |
| Total | 9.0 | 8.4 | 9.3 | 9.6 | 9.2 | 8.7 | 7.7 | 11.3 | 11.8 | 13.1 | 9.8 |
Imports by Country
In 2023, China (3K tons) constituted the largest maize oil supplier to Hong Kong, with a 56% share of total imports. Moreover, maize oil imports from China exceeded the figures recorded by the second-largest supplier, Spain (1.3K tons), twofold. The third position in this ranking was held by Malaysia (671 tons), with a 13% share.
From 2013 to 2023, the average annual growth rate of volume from China amounted to +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+3.2% per year) and Malaysia (-0.4% per year).
In value terms, China ($5M) constituted the largest supplier of maize oil to Hong Kong, comprising 51% of total imports. The second position in the ranking was taken by Spain ($2.4M), with a 25% share of total imports. It was followed by Malaysia, with a 17% share.
From 2013 to 2023, the average annual rate of growth in terms of value from China stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.0% per year) and Malaysia (-0.2% per year).
Imports by Type
In 2023, refined maize (corn) oil (5.3K tons) was the main type of maize oil supplied to Hong Kong, with a 100% share of total imports. It was followed by crude maize (corn) oil (6.7 tons), with a 0.1% share of total imports.
From 2013 to 2023, the average annual rate of growth in terms of the volume of refined maize (corn) oil imports was relatively modest.
In value terms, refined maize (corn) oil ($9.8M) constituted the largest type of maize oil supplied to Hong Kong, comprising 100% of total imports. The second position in the ranking was taken by crude maize (corn) oil ($17K), with a 0.2% share of total imports.
Import Prices by Country
In 2023, the maize oil price stood at $1,826 per ton (CIF, Hong Kong), with a decrease of -13.5% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 29% against the previous year. The import price peaked at $2,110 per ton in 2022, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($2,484 per ton), while the price for China ($1,654 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Spain (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the maize 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 60 - Oil of Maize
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
