Hong Kong SAR, China: Sugar Beet Market 2025

Sugar Beet Market Size in Hong Kong SAR, China

In 2022, the Hong Kong sugar beet market decreased by -1.4% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption faced a dramatic downturn. Sugar beet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sugar Beet Production in Hong Kong SAR, China

In value terms, sugar beet production totaled $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 29%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

The average yield of sugar beet in Hong Kong SAR totaled less than X kg per ha in 2022, leveling off at 2021. Overall, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of sugar beet were harvested in Hong Kong SAR; approximately mirroring 2021 figures. Over the period under review, the harvested area showed a relatively flat trend pattern.

Sugar Beet Exports

Exports from Hong Kong SAR, China

In 2019, approx. X kg of sugar beet were exported from Hong Kong SAR; rising by 2,300% against the previous year. In general, exports recorded significant growth. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2019, the exports remained at a lower figure.

In value terms, sugar beet exports surged to $X in 2019. Overall, exports showed a significant expansion. The exports peaked at $X in 2017; however, from 2018 to 2019, the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for sugar beet exports from Hong Kong SAR, with a approx. 100% share of total exports.

From 2013 to 2019, the average annual growth rate of volume to Singapore stood at -51.0%.

From 2013 to 2019, the average annual growth rate of value to Singapore totaled -45.1%.

Export Prices by Country

In 2019, the average sugar beet export price amounted to $X per ton, increasing by 8.5% against the previous year. In general, the export price recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16%. Over the period under review, the average export prices attained the maximum in 2019 and is likely to see steady growth in the near future.

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

From 2013 to 2019, the rate of growth in terms of prices for Singapore amounted to +12.1% per year.

Sugar Beet Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of sugar beet decreased by -2.5% to X kg, falling for the second year in a row after five years of growth. Over the period under review, imports faced a precipitous decrease. The pace of growth was the most pronounced in 2014 with an increase of 1,112% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar beet imports reduced to $X in 2022. In general, imports faced a sharp reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X kg) constituted the largest supplier of sugar beet to Hong Kong SAR, with a 78% share of total imports. Moreover, sugar beet imports from Brazil exceeded the figures recorded by the second-largest supplier, Indonesia (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil amounted to +33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+22.1% per year) and Turkey (-73.4% per year).

In value terms, Brazil ($X) constituted the largest supplier of sugar beet to Hong Kong SAR, comprising 61% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled +43.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+20.1% per year) and Turkey (-69.0% per year).

Import Prices by Country

In 2022, the average sugar beet import price amounted to $X per ton, declining by -3.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 1,140%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+16.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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