Price for Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR - 2023
Contents:
- Price for Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR (CIF) - 2023
- Price for Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR (FOB) - 2022
- Imports of Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR
- Exports of Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR
Price for Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR (CIF) - 2023
The average import price for crustacean preparations; lobster, prepared or preserveds stood at $14,566 per ton in November 2023, reducing by -15.6% against the previous month. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 52% month-to-month. As a result, import price attained the peak level of $26,990 per ton. From May 2023 to November 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Taiwan (Chinese) ($25,263 per ton), while the price for Canada amounted to $10,534 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR (FOB) - 2022
The average export price for crustacean preparations; lobster, prepared or preserveds stood at $5,491 per ton in 2022, reducing by -38.4% against the previous year. In general, the export price continues to indicate a mild decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices attained the peak figure at $16,402 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($13,074 per ton), while the average price for exports to the Philippines stood at $2,431 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+19.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR
In 2022, approx. 883 tons of crustacean preparations; lobster, prepared or preserveds were imported into Hong Kong SAR; surging by 42% against 2021. Overall, imports, however, recorded a abrupt curtailment.
In value terms, imports of crustacean preparations; lobster, prepared or preserveds surged to $13M in 2022. In general, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 68%.
| Import of Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 13.1 | 4.2 | 6.9 | 9.9 | -8.9% |
| China | 1.2 | 0.5 | 0.9 | 0.9 | -9.1% |
| United States | 0.5 | 0.6 | 0.1 | 0.8 | 17.0% |
| Taiwan (Chinese) | 0.2 | 0.2 | 0.1 | 0.7 | 51.8% |
| Others | 0.3 | 0.4 | 1.9 | 0.5 | 18.6% |
| Total | 15.3 | 5.9 | 9.9 | 12.8 | -5.8% |
Top Suppliers of Crustacean Preparations; Lobster, Prepared or Preserved to Hong Kong SAR in 2022:
- Canada (538.8 tons)
- Taiwan (Chinese) (142.5 tons)
- China (135.8 tons)
- United States (33.0 tons)
Exports of Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR
In 2022, after two years of decline, there was significant growth in shipments abroad of crustacean preparations; lobster, prepared or preserveds, when their volume increased by 302% to 159 tons. In general, exports, however, saw a deep contraction.
In value terms, exports of crustacean preparations; lobster, prepared or preserveds skyrocketed to $873K in 2022. Overall, exports, however, faced a significant curtailment.
| Export of Crustacean Preparations; Lobster, Prepared or Preserved in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 2,737 | 506 | 326 | 595 | -39.9% |
| Philippines | N/A | N/A | N/A | 275 | 0% |
| South Korea | N/A | N/A | 18.9 | N/A | 0% |
| Others | 25.2 | 5.9 | 7.3 | 2.9 | -51.4% |
| Total | 2,762 | 512 | 352 | 873 | -31.9% |
Top Export Markets for Crustacean Preparations; Lobster, Prepared or Preserved from Hong Kong SAR in 2022:
- Philippines (113.1 tons)
- Macao SAR (45.5 tons)
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This report provides an in-depth analysis of the market for prepared or preserved crab meat in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
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