Hong Kong SAR, China: Vegetable Market 2024

Vegetable Market Size in Hong Kong SAR, China

In 2022, the Hong Kong vegetable market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a resilient 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, consumption increased by X% against 2018 indices. Over the period under review, the market hit record highs at $X in 2021, and then dropped slightly in the following year.

Vegetable Production in Hong Kong SAR, China

In value terms, vegetable production shrank to $X in 2022 estimated in export price. Overall, production showed a slight downturn. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

In 2022, the average yield of vegetables in Hong Kong SAR shrank modestly to X tons per ha, stabilizing at the previous year's figure. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The vegetable yield peaked at X tons per ha in 2021, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of vegetables production in Hong Kong SAR was estimated at X ha, approximately equating 2021. Overall, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the harvested area increased by X%. The vegetable harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Vegetable Exports

Exports from Hong Kong SAR, China

After four years of growth, shipments abroad of vegetables decreased by X% to X tons in 2022. Overall, exports, however, continue to indicate a temperate expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced remarkably in the following year.

In value terms, vegetable exports contracted markedly to $X in 2022. Over the period under review, exports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined significantly in the following year.

Exports by Country

Macao SAR (X tons), the Philippines (X tons) and China (X tons) were the main destinations of vegetable exports from Hong Kong SAR, with a combined X% share of total exports. Malaysia and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Macao SAR ($X) emerged as the key foreign market for vegetables exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

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

Export Prices by Country

In 2022, the average vegetable export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of vegetables decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted remarkably in the following year.

In value terms, vegetable imports reduced modestly to $X in 2022. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, China (X tons) was the main vegetable supplier to Hong Kong SAR, accounting for a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of vegetables to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at X%.

Import Prices by Country

In 2022, the average vegetable import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price saw a resilient increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :