Price for Crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containers in Hong Kong SAR - 2023

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR (CIF) - 2023
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR (FOB) - 2023
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR (CIF) - 2023

The average import price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses stood at $8,600 per ton in November 2023, standing approximately at the previous month. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 20% month-to-month. Over the period under review, average import prices reached the peak figure at $9,591 per ton in June 2023; however, from July 2023 to November 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($27,914 per ton), while the price for Vietnam ($7,594 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 Japan (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR (FOB) - 2023

The average export price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses stood at $5,954 per ton in November 2023, declining by -24.5% against the previous month. Over the period under review, the export price, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in December 2022 when the average export price increased by 135% m-o-m. Over the period under review, the average export prices hit record highs at $10,440 per ton in August 2023; however, from September 2023 to November 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was the United States ($8,776 per ton), while the average price for exports to the Philippines ($1,537 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR

Imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses into Hong Kong SAR surged to 4.1K tons in 2022, rising by 17% against 2021 figures. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 31%.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses soared to $31M in 2022. In general, total imports indicated a pronounced expansion from 2019 to 2022: its value increased at an average annual rate of +3.6% 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 +64.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the near future.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers to Hong Kong SAR in 2022:

1. China (1.7K tons)
2. Vietnam (1.3K tons)
3. Thailand (0.7K tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Hong Kong SAR

In 2022, after two years of decline, there was significant growth in shipments abroad of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses, when their volume increased by 61% to 576 tons. Over the period under review, exports, however, continue to indicate a deep setback.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses skyrocketed to $3.8M in 2022. Overall, exports, however, recorded a deep setback.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers from Hong Kong SAR in 2022:

1. Macao SAR (344.2 tons)
2. Philippines (159.2 tons)
3. United States (58.2 tons)
4. Singapore (7.7 tons)

Source: IndexBox Market Intelligence Platform