Report Update: May 1, 2024

Hong Kong SAR, China - Bananas - Market Analysis, Forecast, Size, Trends And Insights

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Banana Price in Hong Kong SAR - 2023

Banana Price in Hong Kong SAR (CIF) - 2023

In October 2023, the average banana import price amounted to $810 per ton, shrinking by -4.4% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in December 2022 when the average import price increased by 11% month-to-month. As a result, import price attained the peak level of $893 per ton. From January 2023 to October 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 October 2023, the country with the highest price was the Philippines ($915 per ton), while the price for Ecuador ($515 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Philippines (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Banana Price in Hong Kong SAR (FOB) - 2022

In 2022, the average banana export price amounted to $1,082 per ton, growing by 1.6% against the previous year. Over the period under review, the export price continues to indicate prominent growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 81%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($1,084 per ton), while the average price for exports to China amounted to $996 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.0%).

Banana Imports in Hong Kong SAR

In 2022, banana imports into Hong Kong SAR reduced to 55K tons, declining by -13.4% on 2021 figures. Overall, imports recorded a deep downturn. The smallest decline of -2.7% was in 2020.

In value terms, banana imports contracted to $46M in 2022. In general, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of 1%. As a result, imports attained the peak of $54M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Banana in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Philippines	44.5	36.6	28.4	23.6	-19.1%
Ecuador	7.8	13.2	13.5	8.3	2.1%
Guatemala	N/A	3.2	5.6	6.9	46.8%
Panama	N/A	N/A	1.8	5.9	227.8%
China	0.6	0.6	0.9	1.4	32.6%
Others	0.8	0.5	0.2	0.4	-20.6%
Total	53.7	54.2	50.5	46.4	-4.8%

Top Suppliers of Banana to Hong Kong SAR in 2022:

Philippines (27.4K tons)
Ecuador (11.3K tons)
Guatemala (7.7K tons)
Panama (6.9K tons)
China (1.5K tons)

Banana Exports in Hong Kong SAR

In 2022, after three years of growth, there was significant decline in shipments abroad of bananas, when their volume decreased by -20% to 3.1K tons. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 66% against the previous year.

In value terms, banana exports dropped significantly to $3.4M in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 78%.

Export of Banana in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Macao SAR	1.5	2.5	4.1	3.3	30.1%
China	N/A	0.2	N/A	0.1	-29.3%
Others	N/A	N/A	N/A	N/A	0%
Total	1.5	2.7	4.2	3.4	31.4%

Top Export Markets for Banana from Hong Kong SAR in 2022:

Macao SAR (3.1K tons)
China (0.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the banana market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 486 - Bananas

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023