Price for Article of Natural Cork in Hong Kong SAR - 2023

Contents:

1. Price for Article of Natural Cork in Hong Kong SAR (CIF) - 2022
2. Price for Article of Natural Cork in Hong Kong SAR (FOB) - 2022
3. Imports of Article of Natural Cork in Hong Kong SAR
4. Exports of Article of Natural Cork in Hong Kong SAR

Price for Article of Natural Cork in Hong Kong SAR (CIF) - 2022

The average article of natural cork import price stood at $10,188 per ton in 2022, surging by 5.8% against the previous year. Overall, the import price, however, saw a pronounced slump. The pace of growth was the most pronounced in 2017 an increase of 64% against the previous year. Over the period under review, average import prices hit record highs at $13,328 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Portugal ($10,834 per ton) and Japan ($9,529 per ton), while the price for China ($8,445 per ton) and Singapore ($9,529 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Article of Natural Cork in Hong Kong SAR (FOB) - 2022

In 2022, the average article of natural cork export price amounted to $12,258 per ton, declining by -30.8% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, article of natural cork export price decreased by -43.6% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 86% against the previous year. The export price peaked at $21,718 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($14,681 per ton) and Germany ($12,068 per ton), while the average price for exports to Colombia ($11,205 per ton) and Macao SAR ($12,068 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 Australia (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Article of Natural Cork in Hong Kong SAR

In 2022, approx. 33 tons of articles of natural cork were imported into Hong Kong SAR; reducing by -18.2% on 2021. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +6.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 83% against the previous year. As a result, imports reached the peak of 40 tons, and then shrank sharply in the following year.

In value terms, article of natural cork imports fell to $334K in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +9.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 93% against the previous year. As a result, imports attained the peak of $385K, and then reduced in the following year.

Top Suppliers of Article of Natural Cork to Hong Kong SAR in 2022:

1. Canada (16.2 tons)
2. Portugal (10.3 tons)
3. Japan (3.1 tons)
4. Singapore (1.0 tons)
5. China (0.8 tons)
6. Italy (0.7 tons)

Exports of Article of Natural Cork in Hong Kong SAR

In 2022, article of natural cork exports from Hong Kong SAR fell remarkably to 4.7 tons, declining by -68.4% compared with 2021. Over the period under review, exports saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of 756% against the previous year. As a result, the exports reached the peak of 15 tons, and then reduced remarkably in the following year.

In value terms, article of natural cork exports declined dramatically to $58K in 2022. In general, exports faced a significant contraction. The most prominent rate of growth was recorded in 2021 with an increase of 599%. As a result, the exports reached the peak of $264K, and then contracted significantly in the following year.

Top Export Markets for Article of Natural Cork from Hong Kong SAR in 2022:

1. China (4.0 tons)
2. United States (0.4 tons)
3. Colombia (0.1 tons)

Source: IndexBox Market Intelligence Platform