Hong Kong SAR, China: Wheat Starch Market 2024

Wheat Starch Market Size in Hong Kong SAR, China

The Hong Kong wheat starch market rose significantly to $X in 2021, increasing by 5.9% against the previous year. Overall, consumption posted a resilient expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Wheat Starch Production in Hong Kong SAR, China

In value terms, wheat starch production amounted to $X in 2021 estimated in export price. In general, production posted buoyant growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 112%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Wheat Starch Exports

Exports from Hong Kong SAR, China

Wheat starch exports from Hong Kong SAR rose slightly to X tons in 2021, growing by 2.4% on 2020 figures. In general, exports, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2015 when exports increased by 15%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, wheat starch exports rose markedly to $X in 2021. Over the period under review, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by 13%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for wheat starch exports from Hong Kong SAR, accounting for a 30% share of total exports. Moreover, wheat starch exports to Macao SAR exceeded the volume sent to the second major destination, the United States (X tons), twofold. Australia (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-12.2% per year) and Australia (-2.6% per year).

In value terms, the largest markets for wheat starch exported from Hong Kong SAR were the United States ($X), Australia ($X) and Macao SAR ($X), with a combined 53% share of total exports. The Netherlands, the UK, Singapore, China, Canada and France lagged somewhat behind, together accounting for a further 36%.

The Netherlands, with a CAGR of +9.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average wheat starch export price stood at $X per ton in 2021, growing by 4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 8.9%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Starch Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in overseas purchases of wheat starch, when their volume increased by 20% to X tons. In general, imports, however, continue to indicate a slight contraction. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, wheat starch imports rose sharply to $X in 2021. Over the period under review, imports, however, saw a pronounced shrinkage. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Australia (X tons) and Lithuania (X tons) were the main suppliers of wheat starch imports to Hong Kong SAR, with a combined 60% share of total imports. These countries were followed by Taiwan (Chinese), Germany, China, Italy and Argentina, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +78.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch suppliers to Hong Kong SAR were Belgium ($X), Taiwan (Chinese) ($X) and Australia ($X), together comprising 59% of total imports. These countries were followed by Lithuania, Germany, China, Italy and Argentina, which together accounted for a further 36%.

Italy, with a CAGR of +75.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, falling by -7.1% against the previous year. Over the period under review, the import price showed a mild reduction. The pace of growth appeared the most rapid in 2019 when the average import price increased by 5.2%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :