Hong Kong SAR, China - Figs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFig Price in Hong Kong SAR - 2023
Contents:
- Fig Price in Hong Kong SAR (CIF) - 2023
- Fig Price in Hong Kong SAR (FOB) - 2022
- Fig Imports in Hong Kong SAR
- Fig Exports in Hong Kong SAR
Fig Price in Hong Kong SAR (CIF) - 2023
In June 2023, the average fig import price amounted to $10,611 per ton, rising by 58% against the previous month. Overall, import price indicated a prominent expansion from June 2022 to June 2023: its price increased at an average monthly rate of +5.5% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, fig import price increased by +61.9% against February 2023 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($16,746 per ton), while the price for Macao SAR ($6,741 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 Turkey (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Fig Price in Hong Kong SAR (FOB) - 2022
The average fig export price stood at $8,345 per ton in 2022, surging by 31% against the previous year. In general, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fig export price decreased by -2.8% against 2020 indices. The export price peaked at $8,587 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($24,702 per ton), while the average price for exports to China ($1,067 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 Singapore (+9.8%), while the prices for the other major destinations experienced a decline.
Fig Imports in Hong Kong SAR
In 2022, overseas purchases of figs were finally on the rise to reach 2.2K tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +9.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, fig imports soared to $13M in 2022. The total import value increased at an average annual rate of +12.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Fig in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 4.7 | 6.2 | 5.9 | 9.4 | 26.0% |
| United States | 2.7 | 1.6 | 1.0 | 1.4 | -19.7% |
| South Africa | 0.4 | 0.2 | 0.4 | 0.6 | 14.5% |
| Greece | 0.1 | 0.4 | 0.5 | 0.5 | 71.0% |
| China | 0.3 | 0.5 | 0.2 | 0.2 | -12.6% |
| Mexico | N/A | 0.6 | N/A | N/A | 0% |
| Others | 1.2 | 1.1 | 1.3 | 1.0 | -5.9% |
| Total | 9.3 | 10.5 | 9.3 | 13.1 | 12.1% |
Top Suppliers of Fig to Hong Kong SAR in 2022:
- Turkey (1833.5 tons)
- United States (144.0 tons)
- South Africa (66.3 tons)
- Greece (50.4 tons)
- China (23.9 tons)
Fig Exports in Hong Kong SAR
In 2022, shipments abroad of figs was finally on the rise to reach 109 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, fig exports skyrocketed to $912K in 2022. The total export value increased at an average annual rate of +7.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Fig in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 489 | 568 | 442 | 715 | 13.5% |
| Canada | 36.6 | 62.7 | 56.7 | 136 | 54.9% |
| Singapore | 126 | 215 | 18.0 | 20.2 | -45.7% |
| Turkey | N/A | N/A | N/A | 15.7 | 0% |
| China | 15.6 | 9.6 | 17.7 | 4.5 | -33.9% |
| Thailand | 34.5 | N/A | 12.2 | N/A | -40.5% |
| Vietnam | N/A | N/A | 37.1 | N/A | 0% |
| Others | 31.5 | 48.7 | 64.2 | 19.4 | -14.9% |
| Total | 733 | 904 | 648 | 912 | 7.6% |
Top Export Markets for Fig from Hong Kong SAR in 2022:
- Macao SAR (79.3 tons)
- Canada (18.7 tons)
- China (4.2 tons)
- Turkey (3.4 tons)
- Singapore (0.8 tons)
This report provides an in-depth analysis of the fig 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 569 - Figs
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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The growth rate of Fig imports was most significant in July 2023, with a month-on-month increase of 403%. However, the value of fig imports sharply dropped to $1.4M in November 2023.
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In June 2023, the Fig price increased by 58% to reach $10,611 per ton (CIF, Hong Kong) compared to the previous month.
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