Brown Rice Price in Hong Kong SAR - 2023
Contents:
- Brown Rice Price in Hong Kong SAR (CIF) - 2023
- Brown Rice Price in Hong Kong SAR (FOB) - 2022
- Brown Rice Imports in Hong Kong SAR
- Brown Rice Exports in Hong Kong SAR
Brown Rice Price in Hong Kong SAR (CIF) - 2023
The average brown rice import price stood at $1,280 per ton in June 2023, waning by -3.8% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 14% against the previous month. The import price peaked at $1,447 per ton in December 2022; however, from January 2023 to June 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Taiwan (Chinese) ($3,475 per ton), while the price for Thailand ($1,075 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Thailand (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Brown Rice Price in Hong Kong SAR (FOB) - 2022
In 2022, the average brown rice export price amounted to $1,842 per ton, falling by -4.4% against the previous year. In general, the export price recorded a noticeable contraction. The pace of growth appeared the most rapid in 2017 an increase of 39%. Over the period under review, the average export prices attained the peak figure at $2,649 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to -5.9% per year.
Brown Rice Imports in Hong Kong SAR
In 2022, the amount of husked (brown) rice imported into Hong Kong SAR rose sharply to 4.2K tons, surging by 12% against 2021 figures. The total import volume increased at an average annual rate of +7.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.
In value terms, brown rice imports amounted to $5.6M in 2022. The total import value increased at an average annual rate of +6.4% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 16% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Brown Rice in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3.3 | 2.8 | 3.3 | 4.2 | 8.4% |
| Thailand | 1.1 | 1.3 | 0.9 | 0.8 | -10.1% |
| Taiwan (Chinese) | 0.3 | 0.4 | 0.3 | 0.4 | 10.1% |
| Myanmar | N/A | 0.1 | 0.8 | N/A | 700.0% |
| Others | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Total | 4.6 | 4.6 | 5.3 | 5.6 | 6.8% |
Top Suppliers of Brown Rice to Hong Kong SAR in 2022:
- Japan (3.2K tons)
- Thailand (0.7K tons)
- Taiwan (Chinese) (0.2K tons)
Brown Rice Exports in Hong Kong SAR
In 2022, the amount of husked (brown) rice exported from Hong Kong SAR contracted to 17 tons, reducing by -8.2% compared with 2021. Over the period under review, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 26% against the previous year. As a result, the exports attained the peak of 18 tons, and then dropped in the following year.
In value terms, brown rice exports contracted to $31K in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 13%. As a result, the exports reached the peak of $35K, and then reduced in the following year.
| Export of Brown Rice in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 30.7 | 31.4 | 35.4 | 31.0 | 0.3% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 30.7 | 31.4 | 35.4 | 31.0 | 0.3% |
Top Export Markets for Brown Rice from Hong Kong SAR in 2022:
- Macao SAR (16.9 tons)
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