Hong Kong SAR, China: Butter And Ghee Market 2024

Butter And Ghee Market Size in Hong Kong SAR, China

In 2022, the Hong Kong butter and ghee market increased by X% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Butter and ghee consumption peaked in 2022 and is likely to see gradual growth in years to come.

Butter And Ghee Exports

Exports from Hong Kong SAR, China

In 2022, the amount of butter and ghee exported from Hong Kong SAR contracted rapidly to X tons, declining by X% against 2021. In general, exports showed a mild slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter and ghee exports fell to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for butter and ghee exports from Hong Kong SAR, with a X% share of total exports. Moreover, butter and ghee exports to Macao SAR exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Singapore (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for butter and ghee exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Macao SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Butter And Ghee Imports

Imports into Hong Kong SAR, China

In 2022, the amount of butter and ghee imported into Hong Kong SAR fell slightly to X tons, which is down by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then fell modestly in the following year.

In value terms, butter and ghee imports rose rapidly to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

New Zealand (X tons), France (X tons) and Australia (X tons) were the main suppliers of butter and ghee imports to Hong Kong SAR, together accounting for X% of total imports. Malaysia, Denmark, Japan, China and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), France ($X) and Australia ($X) appeared to be the largest butter and ghee suppliers to Hong Kong SAR, with a combined X% share of total imports. Denmark, Malaysia, Japan, China and India lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from New Zealand ($X per ton) and Denmark ($X per ton), while the price for Japan ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :