Hong Kong SAR, China: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Hong Kong SAR, China

The Hong Kong wheat and meslin flour market dropped to $X in 2022, waning by -7.8% against the previous year. In general, consumption, however, continues to indicate temperate growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in Hong Kong SAR, China

In value terms, wheat and meslin flour production declined to $X in 2022 estimated in export price. In general, production, however, recorded a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 277% against the previous year. Wheat and meslin flour production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Wheat and Meslin Flour

Exports from Hong Kong SAR, China

Wheat and meslin flour exports from Hong Kong SAR reduced to X tons in 2022, waning by -12.3% compared with 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 71% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, wheat and meslin flour exports reduced to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for wheat and meslin flour exports from Hong Kong SAR, accounting for a 59% share of total exports. Moreover, wheat and meslin flour exports to Macao SAR exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.5% per year) and the UK (-0.4% per year).

In value terms, the largest markets for wheat and meslin flour exported from Hong Kong SAR were Macao SAR ($X), the United States ($X) and the UK ($X), with a combined 80% share of total exports. Canada, Singapore, Malaysia, Australia, the Netherlands and China lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, Canada, with a CAGR of +25.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wheat and meslin flour export price amounted to $X per ton, growing by 7.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 46% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to China ($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 the Netherlands (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Hong Kong SAR, China

In 2022, the amount of wheat and meslin flour imported into Hong Kong SAR reduced to X tons, waning by -7.4% compared with the year before. Overall, imports continue to indicate a mild descent. The pace of growth was the most pronounced in 2017 when imports increased by 4.3%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wheat and meslin flour imports rose remarkably to $X in 2022. Over the period under review, imports saw a slight decline. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wheat and meslin flour to Hong Kong SAR, with a 46% share of total imports. Moreover, wheat and meslin flour imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.9% per year) and Taiwan (Chinese) (+3.3% per year).

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the largest wheat and meslin flour suppliers to Hong Kong SAR, together comprising 76% of total imports. South Korea, Vietnam, Singapore, Thailand and Sri Lanka lagged somewhat behind, together comprising a further 19%.

Among the main suppliers, South Korea, with a CAGR of +30.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wheat and meslin flour import price stood at $X per ton in 2022, jumping by 16% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and Japan ($X per ton), while the price for Sri Lanka ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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