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

Hong Kong SAR, China - Tea - Market Analysis, Forecast, Size, Trends and Insights

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Jun 23, 2023

Hong Kong's Tea Price Slumps to $9,407 per Ton

Hong Kong Tea Import Price in March 2023

In March 2023, the tea price stood at $9,407 per ton (CIF, Hong Kong), waning by -37.8% against the previous month. In general, the import price saw a mild contraction. The growth pace was the most rapid in February 2023 when the average import price increased by 40% m-o-m. The import price peaked at $16,263 per ton in December 2022; however, from January 2023 to March 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In March 2023, the country with the highest price was Taiwan (Chinese) ($12,754 per ton), while the price for Kenya ($2,574 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Kenya (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

COUNTRYImport Price of Tea in Hong Kong (USD per ton)
Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023
Taiwan (Chinese)17,98620,81413,76812,69614,27715,18113,07912,59913,29311,31612,76613,37612,754
China13,26814,06014,80913,34913,32714,67213,21411,52515,91821,25813,01423,90112,245
Sri Lanka5,1874,6484,3344,3984,4514,3074,3674,3504,7714,7644,7165,0105,302
Japan5,8703,1765,4736,1115,3982,8113,1824,1635,8904,3813,6913,2373,604
Kenya2,2492,243N/A1,900N/AN/A2,241N/A2,3832,3342,7072,6862,574
Average11,61310,72412,44510,97811,57811,34011,4729,14012,72016,26310,79715,1189,407

Hong Kong Tea Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In March 2023, the product with the highest price was tea, green; (not fermented), in immediate packings of a content not exceeding 3kg ($13,463 per ton), while the price for tea, green; (not fermented), in immediate packings of a content exceeding 3kg ($6,106 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by tea, green; (not fermented), in immediate packings of a content not exceeding 3kg (+0.6%), while the prices for the other products experienced a decline.

Hong Kong Tea Imports

In March 2023, after two months of decline, there was significant growth in supplies from abroad of tea, when their volume increased by 22% to 1.3K tons. Overall, imports, however, saw a relatively flat trend pattern.

In value terms, tea imports reduced notably to $12M (IndexBox estimates) in March 2023. Over the period under review, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in May 2022 with an increase of 36% against the previous month.

Hong Kong Tea Imports by Type

Tea, black; (fermented) and partly fermented tea, in immediate packings of a content exceeding 3kg (513 tons), tea, black; (fermented) and partly fermented tea, in immediate packings of a content not exceeding 3kg (373 tons) and tea, green; (not fermented), in immediate packings of a content exceeding 3kg (256 tons) were the main products of tea imports to Hong Kong, with a combined 91% share of total imports.

From March 2022 to March 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by tea, black; (fermented) and partly fermented tea, in immediate packings of a content not exceeding 3kg (with a CAGR of +4.2%), while imports for the other products experienced a decline.

In value terms, the most traded types of tea in Hong Kong were tea, black; (fermented) and partly fermented tea, in immediate packings of a content exceeding 3kg ($5M), tea, black; (fermented) and partly fermented tea, in immediate packings of a content not exceeding 3kg ($3.7M) and tea, green; (not fermented), in immediate packings of a content not exceeding 3kg ($1.6M), with a combined 87% share of total imports.

Hong Kong Tea Imports by Country

In March 2023, China (718 tons) constituted the largest tea supplier to Hong Kong, accounting for a 57% share of total imports. Moreover, tea imports from China exceeded the figures recorded by the second-largest supplier, Sri Lanka (253 tons), threefold. Japan (165 tons) ranked third in terms of total imports with a 13% share.

From March 2022 to March 2023, the average monthly rate of growth in terms of volume from China amounted to -2.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Sri Lanka (+3.7% per month) and Japan (+2.6% per month).

In value terms, China ($8.8M) constituted the largest supplier of tea to Hong Kong, comprising 74% of total imports. The second position in the ranking was taken by Sri Lanka ($1.3M), with an 11% share of total imports. It was followed by Japan, with a 5% share.

From March 2022 to March 2023, the average monthly growth rate of value from China stood at -3.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Sri Lanka (+3.9% per month) and Japan (-1.5% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the tea 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 667 - Tea

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. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. 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, HARVESTED AREA AND YIELD

  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. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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