Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR - 2023
Contents:
- Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR (CIF) - 2023
- Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR (FOB) - 2023
- Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR
- Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR
Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR (CIF) - 2023
In November 2023, the average import price for cheese, other than blue-veined, grated, powdered or processed amounted to $5,120 per ton, reducing by -11.1% against the previous month. Over the period under review, the import price recorded a mild downturn. The most prominent rate of growth was recorded in September 2023 when the average import price increased by 10% month-to-month. The import price peaked at $6,351 per ton in March 2023; however, from April 2023 to November 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($9,180 per ton), while the price for Germany ($1,895 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by France (+4.0%), while the prices for the other major suppliers experienced a decline.
Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR (FOB) - 2023
In November 2023, the average export price for cheese, other than blue-veined, grated, powdered or processed amounted to $7,936 per ton, remaining stable against the previous month. Over the period under review, the export price saw a slight shrinkage. The growth pace was the most rapid in January 2023 an increase of 12% m-o-m. The export price peaked at $9,402 per ton in February 2023; however, from March 2023 to November 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In November 2023, the country with the highest price was Macao SAR ($8,068 per ton), while the average price for exports to Singapore totaled $7,109 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (0.0%), while the prices for the other major destinations experienced a decline.
Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR
In 2022, overseas purchases of cheese, other than blue-veined, grated, powdered or processed decreased by -6.4% to 8.9K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 9.8% against the previous year. As a result, imports reached the peak of 9.5K tons, and then fell in the following year.
In value terms, imports of cheese, other than blue-veined, grated, powdered or processed rose modestly to $50M in 2022. The total import value increased at an average annual rate of +6.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 11%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 3.0 | 3.2 | 10.8 | 11.3 | 55.6% |
| France | 5.1 | 6.9 | 7.6 | 5.9 | 5.0% |
| United States | 4.8 | 5.0 | 7.1 | 5.6 | 5.3% |
| United Kingdom | 11.7 | 11.3 | 7.7 | 5.6 | -21.8% |
| Australia | 5.3 | 5.3 | 5.0 | 4.8 | -3.2% |
| Italy | 3.4 | 2.7 | 3.2 | 4.0 | 5.6% |
| Denmark | 1.5 | 1.5 | 0.8 | 3.9 | 37.5% |
| Others | 6.5 | 9.7 | 7.1 | 9.3 | 12.7% |
| Total | 41.3 | 45.7 | 49.5 | 50.5 | 6.9% |
Top Suppliers of Cheese, Other than Blue-Veined, Grated, Powdered or Processed to Hong Kong SAR in 2022:
- New Zealand (2.5K tons)
- United States (1.1K tons)
- United Kingdom (1.0K tons)
- Australia (0.8K tons)
- France (0.8K tons)
- Denmark (0.7K tons)
- Italy (0.5K tons)
Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR
In 2022, exports of cheese, other than blue-veined, grated, powdered or processed from Hong Kong SAR rose remarkably to 599 tons, with an increase of 5.4% against the year before. Overall, exports, however, faced a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of 48%. As a result, the exports attained the peak of 1.3K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of cheese, other than blue-veined, grated, powdered or processed skyrocketed to $4.6M in 2022. In general, exports, however, continue to indicate a abrupt slump.
| Export of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 4.9 | 3.5 | 3.5 | 4.3 | -4.3% |
| China | 0.3 | 0.1 | 0.1 | 0.2 | -12.6% |
| Singapore | 0.1 | 0.1 | N/A | 0.1 | 0.0% |
| Philippines | 0.1 | 1.6 | 0.1 | N/A | 0.0% |
| Taiwan (Chinese) | 0.3 | N/A | N/A | N/A | 0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 5.8 | 5.4 | 3.7 | 4.6 | -7.4% |
Top Export Markets for Cheese, Other than Blue-Veined, Grated, Powdered or Processed from Hong Kong SAR in 2022:
- Macao SAR (536.9 tons)
- China (39.4 tons)
- Singapore (21.9 tons)
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