Hong Kong SAR, China: Yams Market 2024

Yams Market Size in Hong Kong SAR, China

The Hong Kong yams market soared to $X in 2022, picking up by 21% against the previous year. Over the period under review, consumption posted a resilient expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Yams Production in Hong Kong SAR, China

In value terms, yams production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a sharp reduction. The most prominent rate of growth was recorded in 2016 with a decrease of -28.3%. Yams production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of yams in Hong Kong SAR was estimated at less than X kg per ha in 2022, leveling off at the year before. In general, the yield continues to indicate 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.

The yams harvested area in Hong Kong SAR amounted to less than X ha in 2022, stabilizing at 2021. In general, the harvested area recorded a relatively flat trend pattern.

Yams Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of yams decreased by -18.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 393%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, yams exports contracted to $X in 2022. In general, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 681%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for yams exports from Hong Kong SAR, accounting for a 69% share of total exports. Moreover, yams exports to the United States exceeded the volume sent to the second major destination, Bulgaria (X tons), eightfold. The third position in this ranking was taken by Singapore (X kg), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +45.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and Singapore (-41.7% per year).

In value terms, the United States ($X) remains the key foreign market for yams exports from Hong Kong SAR, comprising 48% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 13% share of total exports. It was followed by Singapore, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and Singapore (-33.3% per year).

Export Prices by Country

In 2022, the average yams export price amounted to $X per ton, surging by 10% against the previous year. Overall, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 197%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($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 Canada (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Yams Imports

Imports into Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded growth in purchases abroad of yams, which increased by 18% to X tons in 2022. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 168% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, yams imports skyrocketed to $X in 2022. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 176%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Japan (X tons) constituted the largest yams supplier to Hong Kong SAR, accounting for a 88% share of total imports. Moreover, yams imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Japan amounted to +82.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+45.7% per year) and the United States (-21.1% per year).

In value terms, Japan ($X) constituted the largest supplier of yams to Hong Kong SAR, comprising 70% of total imports. The second position in the ranking was taken by China ($X), with a 29% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Japan totaled +78.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+59.2% per year) and the United States (-20.8% per year).

Import Prices by Country

In 2022, the average yams import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 22%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average 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 China ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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