Hong Kong SAR, China: Other Cereals Market 2024

Other Cereals Market Size in Hong Kong SAR, China

The Hong Kong other cereals market declined markedly to $X in 2021, which is down by -31% 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, consumption, however, posted a significant increase. Other cereals consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Other Cereals Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of other cerealses increased by 55% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a measured expansion. The growth pace was the most rapid in 2017 when exports increased by 1,712% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, other cereals exports surged to $X in 2021. In general, exports recorded prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by 811%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for other cereals exports from Hong Kong SAR, with a 81% share of total exports. Moreover, other cereals exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), eightfold.

From 2013 to 2021, the average annual growth rate of volume to China stood at +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+52.6% per year) and Vietnam (-12.4% per year).

In value terms, China ($X) remains the key foreign market for other cereals exports from Hong Kong SAR, comprising 80% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 12% share of total exports.

From 2013 to 2021, the average annual growth rate of value to China amounted to +54.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+46.7% per year) and Vietnam (-3.8% per year).

Export Prices by Country

The average other cereals export price stood at $X per ton in 2021, with an increase of 4.6% against the previous year. Overall, the export price saw prominent growth. The growth pace was the most rapid in 2014 when the average export price increased by 75%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+9.9%), while the prices for the other major destinations experienced mixed trend patterns.

Other Cereals Imports

Imports into Hong Kong SAR, China

In 2021, other cereals imports into Hong Kong SAR reduced to X tons, which is down by -5.6% compared with the year before. Over the period under review, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 611% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, other cereals imports fell to $X in 2021. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 639% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Peru (X tons) constituted the largest other cereals supplier to Hong Kong SAR, with a 51% share of total imports. Moreover, other cereals imports from Peru exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Canada (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru stood at +83.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.8% per year) and Canada (-13.0% per year).

In value terms, Peru ($X), the United States ($X) and Australia ($X) constituted the largest other cereals suppliers to Hong Kong SAR, together comprising 80% of total imports.

Australia, with a CAGR of +397.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average other cereals import price amounted to $X per ton, with a decrease of -4.1% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, other cereals import price increased by +6.9% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 39% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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