Report Update Nov 1, 2024

Hong Kong SAR, China - Refined Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Hong Kong SAR, China

The Hong Kong refined palm oil market declined slightly to $X in 2022, with a decrease of -4.9% against the previous year. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +28.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Palm Oil Production in Hong Kong SAR, China

In value terms, refined palm oil production contracted to $X in 2022 estimated in export price. Overall, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 114%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Refined Palm Oil Exports

Exports from Hong Kong SAR, China

In 2022, the amount of refined palm oil exported from Hong Kong SAR surged to X tons, with an increase of 46% on the previous year's figure. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 142% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined palm oil exports skyrocketed to $X in 2022. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 154% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for refined palm oil exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR stood at +16.8%.

In value terms, Macao SAR ($X) also remains the key foreign market for refined palm oil exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR amounted to +21.4%.

Export Prices by Country

In 2022, the average refined palm oil export price amounted to $X per ton, falling by -12.8% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 52%. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for Macao SAR.

From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to +3.9% per year.

Refined Palm Oil Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of refined palm oil increased by 116% to X tons, rising for the second year in a row after eight years of decline. Over the period under review, imports, however, showed a pronounced slump. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refined palm oil imports surged to $X in 2022. In general, imports continue to indicate a modest increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of refined palm oil imports to Hong Kong SAR, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +44.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), China ($X) and Indonesia ($X) appeared to be the largest refined palm oil suppliers to Hong Kong SAR, together comprising 98% of total imports.

In terms of the main suppliers, China, with a CAGR of +52.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, picking up by 29% against the previous year. Overall, the import price recorded a perceptible increase. The pace of growth appeared the most rapid in 2021 an increase of 39%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Malaysia ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?

The country with the largest volume of refined palm oil consumption was China, comprising approx. 12% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 5.6% share.

What are the largest producers of refined palm oil in the world?

Indonesia remains the largest refined palm oil producing country worldwide, accounting for 28% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. India ranked third in terms of total production with a 5.2% share.

What are the leading suppliers of refined palm oil to Hong Kong SAR, China?

In value terms, Malaysia constituted the largest supplier of refined palm oil to Hong Kong SAR, comprising 72% of total imports. The second position in the ranking was occupied by Indonesia, with a 21% share of total imports. It was followed by Turkey, with a 3.5% share.

What is the average export price for refined palm oil in Hong Kong SAR, China?

In 2021, the average refined palm oil export price amounted to $946 per ton, increasing by 20% against the previous year.

What is the average import price for refined palm oil in Hong Kong SAR, China?

The average refined palm oil import price stood at $1,305 per ton in 2021, with an increase of 39% against the previous year.

This report provides an in-depth analysis of the refined palm oil market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023