Hong Kong SAR, China: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Hong Kong SAR, China

The Hong Kong soybean oilcake market surged to $X in 2021, with an increase of 19% against the previous year. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.6% 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 -11.7% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Soybean Oilcake Production in Hong Kong SAR, China

In value terms, soybean oilcake production surged to $X in 2021 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% 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 decreased by -15.2% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 40% against the previous year. Soybean oilcake production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Soybean Oilcake Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of soybean oilcake were exported from Hong Kong SAR; increasing by 37% against 2020 figures. In general, exports, however, continue to indicate a significant decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 225%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, soybean oilcake exports soared to $X in 2021. Over the period under review, exports, however, saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by 66% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X tons) and Canada (X tons) were the main destinations of soybean oilcake exports from Hong Kong SAR.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of 0.0%).

In value terms, the largest markets for soybean oilcake exported from Hong Kong SAR were Bulgaria ($X) and Canada ($X).

Bulgaria, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average soybean oilcake export price amounted to $X per ton, reducing by -13.7% against the previous year. Over the period under review, the export price, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 an increase of 551% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Bulgaria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+55.5%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of soybean oilcake increased by 37% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, soybean oilcake imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) was the main soybean oilcake supplier to Hong Kong SAR, accounting for a 92% share of total imports. Moreover, soybean oilcake imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +2.0%.

In value terms, the United States ($X) constituted the largest supplier of soybean oilcake to Hong Kong SAR, comprising 89% of total imports. The second position in the ranking was taken by China ($X), with an 8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +2.2%.

Import Prices by Country

In 2021, the average soybean oilcake import price amounted to $X per ton, jumping by 31% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat 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 stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.9%).

Source: IndexBox Platform

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