Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR - 2023

Contents:

1. Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR (CIF) - 2023
2. Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR (FOB) - 2022
3. Imports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR
4. Exports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR

Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR (CIF) - 2023

The average import price for flour and meal; of sago, roots or tubers of heading no. 0714 stood at $6,585 per ton in October 2023, surging by 2.4% against the previous month. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in February 2023 an increase of 25% against the previous month. The import price peaked in October 2023.

Prices varied noticeably by the country of origin: the country with the highest price was China ($7,295 per ton), while the price for Indonesia ($1,030 per ton) was amongst the lowest.

From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR (FOB) - 2022

The average export price for flour and meal; of sago, roots or tubers of heading no. 0714 stood at $8,017 per ton in 2022, increasing by 14% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the average export price increased by 31%. The export price peaked at $9,359 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($9,744 per ton), while the average price for exports to Macao SAR ($3,874 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+24.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR

In 2022, imports of flour and meal; of sago, roots or tubers of heading no. 0714 into Hong Kong SAR stood at 532 tons, with an increase of 2.3% against 2021. The total import volume increased at an average annual rate of +5.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 30%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of flour and meal; of sago, roots or tubers of heading no. 0714 declined to $3.4M in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. As a result, imports attained the peak of $3.6M, and then fell in the following year.

Top Suppliers of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 to Hong Kong SAR in 2022:

1. China (491.9 tons)
2. Taiwan (Chinese) (22.5 tons)
3. Indonesia (14.2 tons)
4. Japan (3.5 tons)

Exports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in Hong Kong SAR

After two years of decline, shipments abroad of flour and meal; of sago, roots or tubers of heading no. 0714 increased by 22% to 95 tons in 2022. Over the period under review, exports, however, showed a drastic downturn.

In value terms, exports of flour and meal; of sago, roots or tubers of heading no. 0714 skyrocketed to $761K in 2022. Overall, exports, however, saw a deep reduction.

Top Export Markets for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 from Hong Kong SAR in 2022:

1. United States (39.1 tons)
2. Australia (25.1 tons)
3. Macao SAR (16.5 tons)
4. Canada (10.2 tons)
5. United Kingdom (2.1 tons)

Source: IndexBox Market Intelligence Platform