Hong Kong SAR, China - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSoybean Oil Price in Hong Kong Shrinks Slightly to $1,374 per Ton
Hong Kong Soybean Oil Import Price in March 2023
In March 2023, the soybean oil price stood at $1,374 per ton (CIF, Hong Kong), waning by -2% against the previous month. Over the period under review, the import price continues to indicate a mild slump. The growth pace was the most rapid in June 2022 an increase of 15% against the previous month. Over the period under review, average import prices hit record highs at $1,902 per ton in August 2022; however, from September 2022 to March 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In March 2023, the highest price was recorded for prices from Taiwan (Chinese) ($1,584 per ton) and Argentina ($1,547 per ton), while the price for China ($1,285 per ton) and Thailand ($1,444 per ton) were amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.
| COUNTRY | Import Price of Soybean Oil in Hong Kong (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | |
| Taiwan (Chinese) | 1,515 | 1,470 | 1,476 | 1,410 | 1,762 | 1,662 | 1,664 | 1,658 | 1,642 | 1,646 | 1,603 | 1,584 | 1,584 |
| Argentina | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1,547 |
| Thailand | 1,589 | 1,685 | 1,750 | 1,945 | 2,044 | 2,024 | 2,031 | 1,834 | 1,693 | 1,590 | 1,571 | 1,485 | 1,444 |
| China | 1,553 | 1,539 | 1,510 | 1,811 | 1,824 | 1,871 | 1,596 | 1,451 | 1,397 | 1,421 | 1,363 | 1,328 | 1,285 |
| Average | 1,578 | 1,563 | 1,542 | 1,780 | 1,857 | 1,902 | 1,694 | 1,613 | 1,539 | 1,482 | 1,417 | 1,401 | 1,374 |
Hong Kong Soybean Oil Import Prices by Type
Average prices varied noticeably amongst the major supplied products. In March 2023, the product with the highest price was crude soybean oil ($1,386 per ton), while the price for refined soybean oil and its fractions stood at $1,363 per ton.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by refined soybean oil (-1.2%).
Hong Kong Soybean Oil Imports
In March 2023, approximately 8.9K tons of soybean oil were imported into Hong Kong; surging by 170% compared with February 2023 figures. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in April 2022 with an increase of 251% against the previous month. Over the period under review, imports reached the peak figure in March 2023.
In value terms, soybean oil imports soared to $12M (IndexBox estimates) in March 2023. Overall, imports recorded a prominent increase. The pace of growth was the most pronounced in April 2022 when imports increased by 247% m-o-m.
Hong Kong Soybean Oil Imports by Type
Refined soybean oil and its fractions (4.8K tons) and crude soybean oil (4.2K tons) were the main products of soybean oil imports to Hong Kong.
From March 2022 to March 2023, the biggest increases were in crude soybean oil (with a CAGR of +64.1%).
In value terms, the most traded types of soybean oil in Hong Kong were refined soybean oil and its fractions ($6.5M) and crude soybean oil ($5.8M).
Hong Kong Soybean Oil Imports by Country
In March 2023, China (5.5K tons) constituted the largest soybean oil supplier to Hong Kong, accounting for a 61% share of total imports. Moreover, soybean oil imports from China exceeded the figures recorded by the second-largest supplier, Argentina (2K tons), threefold. Thailand (1.4K tons) ranked third in terms of total imports with a 15% share.
From March 2022 to March 2023, the average monthly growth rate of volume from China amounted to +48.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Argentina (0.0% per month) and Thailand (+3.2% per month).
In value terms, China ($7M) constituted the largest supplier of soybean oil to Hong Kong, comprising 57% of total imports. The second position in the ranking was taken by Argentina ($3.1M), with a 25% share of total imports. It was followed by Thailand, with a 16% share.
From March 2022 to March 2023, the average monthly rate of growth in terms of value from China stood at +46.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Argentina (0.0% per month) and Thailand (+2.4% per month).
This report provides an in-depth analysis of the soybean 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 237 - Oil of Soybeans
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
