Hong Kong SAR, China: Sugar Crop Market 2024

Sugar Crop Market Size in Hong Kong SAR, China

The Hong Kong sugar crop market fell sharply to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sugar Crop Production in Hong Kong SAR, China

In value terms, sugar crop production declined modestly to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

The average yield of sugar crops in Hong Kong SAR was estimated at less than X kg per ha in 2022, approximately reflecting the year before. Overall, the yield recorded 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 crops were harvested in Hong Kong SAR; approximately mirroring the previous year's figure. Over the period under review, the harvested area saw a relatively flat trend pattern.

Sugar Crop Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of sugar crops decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw moderate growth. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sugar crop exports rose rapidly to $X in 2022. Overall, exports showed a noticeable descent. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X kg), Sweden (X kg) and Germany (X kg) were the main destinations of sugar crop exports from Hong Kong SAR, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for sugar crops exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Sweden (X% per year).

Export Prices by Country

The average sugar crop export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Crop Imports

Imports into Hong Kong SAR, China

In 2022, the amount of sugar crops imported into Hong Kong SAR fell remarkably to X tons, waning by X% on the previous year's figure. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sugar crop imports contracted to $X in 2022. Overall, imports saw a pronounced slump. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Peru (X tons) and Vietnam (X tons) were the main suppliers of sugar crop imports to Hong Kong SAR, together comprising X% of total imports.

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

In value terms, China ($X) constituted the largest supplier of sugar crops to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Peru ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average sugar crop import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, faced a deep setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 ($X per ton), while the price for Peru ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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