Hong Kong SAR, China: Preserved Tuna Market 2024

Preserved Tuna Market Size in Hong Kong SAR, China

The Hong Kong preserved tuna market contracted to $X in 2021, reducing by -9% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Preserved Tuna Production in Hong Kong SAR, China

In value terms, preserved tuna production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Preserved Tuna Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of tuna (prepared or preserved) were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 47% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, preserved tuna exports expanded notably to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 60%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for preserved tuna exports from Hong Kong SAR, accounting for a 97% share of total exports. It was followed by Malaysia (X tons), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR was relatively modest.

In value terms, Macao SAR ($X) remains the key foreign market for tuna (prepared or preserved) exports from Hong Kong SAR, comprising 98% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR amounted to +1.7%.

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, reducing by -9.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 21% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+1.0%).

Preserved Tuna Imports

Imports into Hong Kong SAR, China

Preserved tuna imports into Hong Kong SAR rose slightly to X tons in 2021, increasing by 3.6% against the previous year's figure. In general, imports, however, recorded a slight descent. The growth pace was the most rapid in 2016 with an increase of 18%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, preserved tuna imports contracted slightly to $X in 2021. Overall, imports, however, showed a slight descent. The most prominent rate of growth was recorded in 2016 when imports increased by 16% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) constituted the largest preserved tuna supplier to Hong Kong SAR, accounting for a 55% share of total imports. Moreover, preserved tuna imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. China (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-1.6% per year) and China (-0.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of tuna (prepared or preserved) to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total imports. It was followed by Japan, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Thailand stood at -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-3.8% per year) and Japan (+7.8% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, reducing by -4.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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