Hong Kong SAR, China - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHong Kong's Groundnut Oil Imports Reach $1.3M in June 2023
Hong Kong Refined Groundnut Oil Imports
In June 2023, after two months of decline, there was significant growth in purchases abroad of refined groundnut oil, when their volume increased by 20% to 475 tons. In general, imports, however, continue to indicate a slight curtailment. The growth pace was the most rapid in July 2022 with an increase of 93% m-o-m. As a result, imports reached the peak of 1.1K tons. From August 2022 to June 2023, the growth of imports remained at a lower figure.
In value terms, refined groundnut oil imports totaled $1.3M (IndexBox estimates) in June 2023. Over the period under review, imports, however, showed a slight downturn. The pace of growth was the most pronounced in July 2022 with an increase of 79% against the previous month. As a result, imports reached the peak of $2.8M. From August 2022 to June 2023, the growth of imports remained at a lower figure.
| COUNTRY | Import Value of Refined Groundnut Oil in Hong Kong (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | |
| China | 1.2 | 2.7 | 2.0 | 1.8 | 2.0 | 1.6 | 1.3 | 1.4 | 1.3 | 1.6 | 1.6 | 0.6 | 1.2 |
| United States | 0.4 | < 0.1 | < 0.1 | 0.1 | N/A | N/A | 0.2 | 1.0 | 0.5 | 0.6 | 0.5 | 0.6 | < 0.1 |
| Others | N/A | N/A | N/A | N/A | N/A | N/A | < 0.1 | < 0.1 | N/A | < 0.1 | < 0.1 | < 0.1 | < 0.1 |
| Total | 1.6 | 2.8 | 2.1 | 1.9 | 2.0 | 1.6 | 1.5 | 2.4 | 1.8 | 2.2 | 2.1 | 1.2 | 1.3 |
Imports by Country
In June 2023, China (437 tons) was the main refined groundnut oil supplier to Hong Kong, with a 92% share of total imports. Moreover, refined groundnut oil imports from China exceeded the figures recorded by the second-largest supplier, the United States (15 tons), more than tenfold.
From June 2022 to June 2023, the average monthly growth rate of volume from China was relatively modest.
In value terms, China ($1.2M) constituted the largest supplier of refined groundnut oil to Hong Kong, comprising 91% of total imports. The second position in the ranking was taken by the United States ($52K), with a 4% share of total imports.
From June 2022 to June 2023, the average monthly growth rate of value from China was relatively modest.
Import Prices by Country
In June 2023, the refined groundnut oil price amounted to $2,732 per ton (CIF, Hong Kong), dropping by -13% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in May 2023 an increase of 11% against the previous month. As a result, import price attained the peak level of $3,142 per ton, and then fell in the following month.
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 ($2,704 per ton) was amongst the lowest.
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 mixed trend patterns.
This report provides an in-depth analysis of the refined 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:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
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 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- 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 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
