Hong Kong SAR, China: Carrot And Turnip Market 2025

Carrot And Turnip Market Size in Hong Kong SAR, China

The Hong Kong carrot and turnip market soared to $X in 2022, with an increase of 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +65.7% against 2016 indices. Carrot and turnip consumption peaked in 2022 and is likely to see gradual growth in years to come.

Carrot And Turnip Exports

Exports from Hong Kong SAR, China

Carrot and turnip exports from Hong Kong SAR contracted to X tons in 2022, with a decrease of -14.2% against 2021. Over the period under review, exports faced a deep slump. The pace of growth appeared the most rapid in 2015 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, carrot and turnip exports reduced to $X in 2022. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 38%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) and Macao SAR (X tons) were the main destinations of carrot and turnip exports from Hong Kong SAR.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of -2.2%).

In value terms, China ($X) and Macao SAR ($X) constituted the largest markets for carrot and turnip exported from Hong Kong SAR worldwide.

In terms of the main countries of destination, Macao SAR, with a CAGR of +1.7%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average carrot and turnip export price stood at $X per ton in 2022, increasing by 4.9% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carrot and turnip export price increased by +22.0% against 2017 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 22%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Carrot And Turnip Imports

Imports into Hong Kong SAR, China

Carrot and turnip imports into Hong Kong SAR totaled X tons in 2022, increasing by 14% on the year before. The total import volume increased at an average annual rate of +1.9% over the period 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 2017 with an increase of 32% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, carrot and turnip imports skyrocketed to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +67.3% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Taiwan (Chinese) (X tons), Australia (X tons) and China (X tons) were the main suppliers of carrot and turnip imports to Hong Kong SAR, with a combined 95% share of total imports. Japan lagged somewhat behind, accounting for a further 3.9%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +15.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Taiwan (Chinese) ($X) and China ($X) appeared to be the largest carrot and turnip suppliers to Hong Kong SAR, together accounting for 81% of total imports. These countries were followed by Japan, which accounted for a further 14%.

In terms of the main suppliers, Japan, with a CAGR of +14.0%, saw 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

The average carrot and turnip import price stood at $X per ton in 2022, picking up by 7.6% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carrot and turnip import price increased by +54.9% against 2015 indices. The growth pace was the most rapid in 2016 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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