Price for Frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) in Hong Kong SAR - 2023
Contents:
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR (CIF) - 2023
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR (FOB) - 2023
- Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR
- Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR (CIF) - 2023
In November 2023, the average import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) amounted to $6,338 per ton, approximately mirroring the previous month. Over the period under review, the import price, however, saw a perceptible shrinkage. The growth pace was the most rapid in December 2022 when the average import price increased by 63% against the previous month. Over the period under review, average import prices attained the maximum at $16,540 per ton in April 2023; however, from May 2023 to November 2023, 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 New Zealand ($14,500 per ton), while the price for Iceland ($2,997 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 New Zealand (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR (FOB) - 2023
The average export price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) stood at $9,841 per ton in November 2023, jumping by 16% against the previous month. In general, the export price continues to indicate mild growth. The pace of growth appeared the most rapid in April 2023 an increase of 356% against the previous month. Over the period under review, the average export prices hit record highs at $16,915 per ton in May 2023; however, from June 2023 to November 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From November 2022 to November 2023, the rate of growth in terms of prices for Macao SAR amounted to +1.2% per month.
Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR
In 2022, purchases abroad of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) decreased by -65.8% to 2.1K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a sharp descent. The growth pace was the most rapid in 2020 with an increase of 35%.
In value terms, imports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) dropped notably to $22M in 2022. Over the period under review, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 13% against the previous year.
| Import of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 14.9 | 16.0 | 13.8 | 13.7 | -2.8% |
| China | 6.8 | 5.0 | 5.1 | 4.0 | -16.2% |
| Australia | 3.8 | 8.9 | 13.2 | 2.7 | -10.8% |
| United Kingdom | 1.8 | 2.3 | 1.8 | 1.0 | -17.8% |
| Spain | 0.4 | 0.2 | 0.2 | 0.3 | -9.1% |
| Ireland | 1.6 | 0.8 | 0.1 | 0.2 | -50.0% |
| Others | 0.6 | 0.4 | 0.4 | 0.3 | -20.6% |
| Total | 29.8 | 33.6 | 34.7 | 22.2 | -9.3% |
Top Suppliers of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) to Hong Kong SAR in 2022:
- New Zealand (869.0 tons)
- Australia (604.4 tons)
- China (328.0 tons)
- United Kingdom (173.1 tons)
- Ireland (64.0 tons)
- Spain (42.3 tons)
Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR
Exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) from Hong Kong SAR expanded remarkably to 267 tons in 2022, increasing by 7.6% on 2021. Overall, exports, however, saw a sharp descent. The most prominent rate of growth was recorded in 2021 with an increase of 28%.
In value terms, exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) dropped slightly to $1.7M in 2022. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 14%.
| Export of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 2,150 | 1,410 | 1,579 | 1,447 | -12.4% |
| South Korea | 38.3 | N/A | N/A | 163 | 62.1% |
| Malaysia | N/A | N/A | N/A | 76.6 | 0% |
| Taiwan (Chinese) | N/A | N/A | N/A | 44.3 | 0% |
| Thailand | 34.5 | N/A | 3.1 | N/A | -70.0% |
| Vietnam | 623 | 92.6 | 165 | N/A | -48.5% |
| Others | N/A | 33.4 | N/A | N/A | 0% |
| Total | 2,846 | 1,536 | 1,747 | 1,731 | -15.3% |
Top Export Markets for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) from Hong Kong SAR in 2022:
- Macao SAR (164.8 tons)
- South Korea (54.6 tons)
- Malaysia (25.2 tons)
- Taiwan (Chinese) (22.4 tons)
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