Price for Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR - 2023

Contents:

1. Price for Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR (CIF) - 2023
2. Price for Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR (FOB) - 2022
3. Imports of Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR
4. Exports of Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR

Price for Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR (CIF) - 2023

In September 2023, the average import price for mollusc preparations; octopus, prepared or preserveds amounted to $6,418 per ton, dropping by -6% against the previous month. Over the period under review, the import price showed a pronounced reduction. The pace of growth appeared the most rapid in March 2023 when the average import price increased by 11% month-to-month. As a result, import price reached the peak level of $10,355 per ton. From April 2023 to September 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Vietnam ($19,124 per ton), while the price for Taiwan (Chinese) ($4,249 per ton) was amongst the lowest.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the prices for the other major suppliers experienced a decline.

Price for Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for mollusc preparations; octopus, prepared or preserveds amounted to $9,735 per ton, surging by 7.3% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for mollusc preparations; octopus, prepared or preserveds decreased by -2.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 44%. Over the period under review, the average export prices reached the maximum at $10,008 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($12,091 per ton), while the average price for exports to the United States ($7,727 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 (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR

After three years of growth, purchases abroad of mollusc preparations; octopus, prepared or preserveds decreased by -0.6% to 1.3K tons in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +13.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. As a result, imports reached the peak of 1.3K tons, leveling off in the following year.

In value terms, imports of mollusc preparations; octopus, prepared or preserveds expanded notably to $12M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Mollusc Preparations; Octopus, Prepared or Preserved to Hong Kong SAR in 2022:

1. China (819.3 tons)
2. Japan (343.3 tons)
3. Taiwan (Chinese) (87.4 tons)
4. Vietnam (41.7 tons)

Exports of Mollusc Preparations; Octopus, Prepared or Preserved in Hong Kong SAR

In 2022, approx. 75 tons of mollusc preparations; octopus, prepared or preserveds were exported from Hong Kong SAR; rising by 34% on the previous year. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 53%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of mollusc preparations; octopus, prepared or preserveds surged to $725K in 2022. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Mollusc Preparations; Octopus, Prepared or Preserved from Hong Kong SAR in 2022:

1. Macao SAR (35.3 tons)
2. Singapore (33.5 tons)
3. United States (3.9 tons)
4. Taiwan (Chinese) (1.7 tons)

Source: IndexBox Market Intelligence Platform