Milled Rice Price in Hong Kong SAR - 2023
Contents:
- Milled Rice Price in Hong Kong SAR (CIF) - 2023
- Milled Rice Price in Hong Kong SAR (FOB) - 2023
- Milled Rice Imports in Hong Kong SAR
- Milled Rice Exports in Hong Kong SAR
Milled Rice Price in Hong Kong SAR (CIF) - 2023
In June 2023, the average milled rice import price amounted to $873 per ton, almost unchanged from the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2022 an increase of 7.5% m-o-m. Over the period under review, average import prices attained the peak figure at $902 per ton in February 2023; however, from March 2023 to June 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Japan ($1,758 per ton), while the price for Vietnam ($642 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 Cambodia (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Milled Rice Price in Hong Kong SAR (FOB) - 2023
The average milled rice export price stood at $1,198 per ton in June 2023, approximately reflecting the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average export price increased by 17% m-o-m. Over the period under review, the average export prices hit record highs at $1,306 per ton in June 2022; however, from July 2022 to June 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major overseas markets. In June 2023, the country with the highest price was the United States ($1,673 per ton), while the average price for exports to Macao SAR ($1,132 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.0%), while the prices for the other major destinations experienced a decline.
Milled Rice Imports in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in supplies from abroad of semi-milled or wholly milled (bleached) rice, which decreased by less than 0.1% to 279K tons in 2022. Overall, imports showed a noticeable downturn.
In value terms, milled rice imports declined to $240M in 2022. In general, imports showed a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 1.7%. As a result, imports attained the peak of $296M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Milled Rice in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 182 | 187 | 146 | 151 | -6.0% |
| Vietnam | 55.8 | 48.2 | 49.1 | 39.5 | -10.9% |
| China | 16.5 | 14.4 | 16.5 | 17.2 | 1.4% |
| Japan | 9.5 | 14.6 | 15.6 | 14.8 | 15.9% |
| Cambodia | 8.9 | 17.6 | 8.0 | 6.7 | -9.0% |
| United States | 7.6 | 7.4 | 5.4 | 3.4 | -23.5% |
| Others | 11.1 | 6.5 | 6.4 | 6.7 | -15.5% |
| Total | 291 | 296 | 247 | 240 | -6.2% |
Top Suppliers of Milled Rice to Hong Kong SAR in 2022:
- Thailand (169.5K tons)
- Vietnam (63.1K tons)
- China (22.5K tons)
- Cambodia (9.1K tons)
- Japan (7.0K tons)
- United States (2.7K tons)
Milled Rice Exports in Hong Kong SAR
In 2022, approx. 8.5K tons of semi-milled or wholly milled (bleached) rice were exported from Hong Kong SAR; declining by -13.8% against the previous year's figure. In general, exports showed a abrupt setback. The smallest decline of -7.6% was in 2021.
In value terms, milled rice exports shrank to $10M in 2022. Overall, exports faced a abrupt shrinkage.
| Export of Milled Rice in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 14.0 | 10.4 | 9.0 | 8.0 | -17.0% |
| United States | 1.4 | 1.4 | 1.4 | 1.5 | 2.3% |
| United Kingdom | 0.4 | 0.4 | 0.2 | 0.4 | 0.0% |
| Canada | 0.3 | 0.5 | 0.4 | 0.3 | 0.0% |
| China | 0.4 | 0.2 | 0.2 | N/A | -29.3% |
| Others | 0.1 | 0.1 | 0.3 | 0.1 | 0.0% |
| Total | 16.7 | 13.0 | 11.4 | 10.3 | -14.9% |
Top Export Markets for Milled Rice from Hong Kong SAR in 2022:
- China (undefinedK tons)
- Macao SAR (7.1K tons)
- United States (0.9K tons)
- Canada (0.2K tons)
- United Kingdom (0.2K tons)
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