Hong Kong SAR, China: Prepared Mustard Market 2024

Prepared Mustard Market Size in Hong Kong SAR, China

The Hong Kong prepared mustard market shrank to $X in 2021, waning by -12.4% against the previous year. Overall, consumption, however, enjoyed a strong increase. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Prepared Mustard Production in Hong Kong SAR, China

In value terms, prepared mustard production contracted significantly to $X in 2021 estimated in export price. In general, production, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 62% against the previous year. Prepared mustard production peaked at $X in 2020, and then reduced notably in the following year.

Prepared Mustard Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of prepared mustard increased by 7.4% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 9.2%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, prepared mustard exports dropped modestly to $X in 2021. Over the period under review, exports, however, saw a mild reduction. The most prominent rate of growth was recorded in 2016 with an increase of 13%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for prepared mustard exports from Hong Kong SAR, with a 61% share of total exports. Moreover, prepared mustard exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by Macao SAR (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-12.3% per year) and Macao SAR (-5.3% per year).

In value terms, Vietnam ($X) remains the key foreign market for prepared mustard exports from Hong Kong SAR, comprising 75% of total exports. The second position in the ranking was taken by China ($X), with a 13% share of total exports. It was followed by Macao SAR, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-7.6% per year) and Macao SAR (-6.9% per year).

Export Prices by Country

In 2021, the average prepared mustard export price amounted to $X per ton, dropping by -9.8% against the previous year. In general, the export price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 39%. The export price peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+10.6%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Mustard Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in supplies from abroad of prepared mustard, when their volume increased by 36% to X tons. In general, imports, however, saw a perceptible decrease. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, prepared mustard imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of prepared mustard to Hong Kong SAR, accounting for a 51% share of total imports. Moreover, prepared mustard imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.7% per year) and the United States (-10.7% per year).

In value terms, China ($X) constituted the largest supplier of prepared mustard to Hong Kong SAR, comprising 48% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.1% per year) and France (-2.5% per year).

Import Prices by Country

The average prepared mustard import price stood at $X per ton in 2021, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 an increase of 17%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :