Hong Kong SAR, China: Rice Bran Market 2024

Rice Bran Market Size in Hong Kong SAR, China

The Hong Kong rice bran market contracted slightly to $X in 2021, shrinking by -1.9% against the previous year. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by +0.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Rice Bran Production in Hong Kong SAR, China

In value terms, rice bran production shrank modestly to $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +2.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Rice Bran Exports

Exports from Hong Kong SAR, China

In 2021, exports of rice bran from Hong Kong SAR totaled X tons, leveling off at the previous year's figure. Overall, exports, however, continue to indicate a sharp descent. The growth pace was the most rapid in 2014 when exports increased by 2,152% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, rice bran exports surged to $X in 2021. In general, exports showed a mild increase. The pace of growth appeared the most rapid in 2017 when exports increased by 48% against the previous year. 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

Paraguay (X tons) was the main destination for rice bran exports from Hong Kong SAR, with a 86% share of total exports. Moreover, rice bran exports to Paraguay exceeded the volume sent to the second major destination, Singapore (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Paraguay totaled +73.1%.

In value terms, Singapore ($X) and Paraguay ($X) were the largest markets for rice bran exported from Hong Kong SAR worldwide.

Paraguay, with a CAGR of +64.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average rice bran export price stood at $X per ton in 2021, rising by 16% against the previous year. Over the period under review, the export price continues to indicate significant growth. The pace of growth appeared the most rapid in 2013 an increase of 711%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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 Singapore ($X per ton), while the average price for exports to Paraguay amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+756.8%), while the prices for the other major destinations experienced mixed trend patterns.

Rice Bran Imports

Imports into Hong Kong SAR, China

In 2021, the amount of rice bran imported into Hong Kong SAR fell dramatically to X tons, which is down by -74.5% compared with the previous year. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 1,644% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, rice bran imports contracted dramatically to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 835% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of rice bran to Hong Kong SAR, accounting for a 61% share of total imports. Moreover, rice bran imports from the United States exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. The third position in this ranking was held by Canada (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+35.9% per year) and Canada (+33.7% per year).

In value terms, China ($X), Poland ($X) and the United States ($X) were the largest rice bran suppliers to Hong Kong SAR, with a combined 50% share of total imports. New Zealand, Canada, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 18%.

Canada, with a CAGR of +22.1%, saw the highest growth rate of the value of imports, in terms of 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 rice bran import price amounted to $X per ton, dropping by -2.5% against the previous year. Over the period under review, the import price, however, continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 an increase of 192% against the previous year. The import price peaked at $X per ton in 2020, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($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 (+39.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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