Report Update: May 1, 2024

Hong Kong SAR, China - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Maize Oil Price in Hong Kong SAR - 2023

Maize Oil Price in Hong Kong SAR (CIF) - 2023

In September 2023, the average maize oil import price amounted to $1,527 per ton, reducing by -19.2% against the previous month. In general, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in July 2023 an increase of 35% against the previous month. Over the period under review, average import prices hit record highs at $2,561 per ton in October 2022; however, from November 2022 to September 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Malaysia ($2,463 per ton), while the price for China totaled $1,422 per ton.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by South Korea (+19.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Maize Oil Price in Hong Kong SAR (FOB) - 2022

The average maize oil export price stood at $2,669 per ton in 2022, picking up by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($3,404 per ton) and Australia ($2,952 per ton), while the average price for exports to China ($2,573 per ton) and Macao SAR ($2,577 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Oil Imports in Hong Kong SAR

In 2022, supplies from abroad of maize oil decreased by -7.1% to 6.2K tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 37% against the previous year. As a result, imports attained the peak of 8.2K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, maize oil imports expanded sharply to $13M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +19.2% 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 +69.5% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 47%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Import of Maize Oil in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	2.3	6.4	8.5	10.0	63.2%
Malaysia	1.7	1.9	2.0	1.7	0.0%
South Korea	1.8	2.3	0.7	1.2	-12.6%
Singapore	0.9	N/A	N/A	0.2	-39.4%
Spain	0.9	0.6	0.6	N/A	-18.4%
Others	N/A	0.1	N/A	N/A	0%
Total	7.7	11.3	11.8	13.1	19.4%

Top Suppliers of Maize Oil to Hong Kong SAR in 2022:

Spain (undefinedK tons)
China (4.8K tons)
Malaysia (0.7K tons)
South Korea (0.6K tons)
Singapore (0.1K tons)

Maize Oil Exports in Hong Kong SAR

In 2022, the amount of maize oil exported from Hong Kong SAR shrank to 659 tons, waning by -6.3% against the year before. Over the period under review, exports continue to indicate a abrupt contraction.

In value terms, maize oil exports rose notably to $1.8M in 2022. The total export value increased at an average annual rate of +3.3% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Maize Oil in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Macao SAR	673	809	1,064	1,224	22.1%
United States	136	94.6	118	196	13.0%
China	710	476	279	163	-38.8%
Canada	2.9	10.7	17.8	90.3	214.6%
Australia	60.7	59.0	84.2	67.3	3.5%
Others	10.9	17.1	19.9	17.2	16.4%
Total	1,594	1,466	1,583	1,758	3.3%

Top Export Markets for Maize Oil from Hong Kong SAR in 2022:

Macao SAR (474.8 tons)
China (63.5 tons)
United States (57.6 tons)
Canada (34.7 tons)
Australia (22.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the maize oil 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 60 - Oil of Maize

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023