Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR - 2023
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR (CIF) - 2023
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR (FOB) - 2022
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR (CIF) - 2023
The average import price for raw cane sugar (without flavoring or coloring matter, other) stood at $1,266 per ton in November 2023, surging by 9.9% against the previous month. In general, import price indicated a prominent increase from November 2022 to November 2023: its price increased at an average monthly rate of +5.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for raw cane sugar (without flavoring or coloring matter, other) increased by +20.0% against August 2023 indices. The growth pace was the most rapid in March 2023 an increase of 23% m-o-m. The import price peaked in November 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($3,187 per ton), while the price for Mauritius ($876 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 Thailand (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR (FOB) - 2022
The average export price for raw cane sugar (without flavoring or coloring matter, other) stood at $1,663 per ton in 2022, growing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. Over the period under review, the average export prices reached the peak figure at $1,669 per ton in 2016; afterwards, it flattened through to 2022.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($3,757 per ton), while the average price for exports to the United States ($1,074 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 China (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR
In 2022, purchases abroad of raw cane sugar (without flavoring or coloring matter, other) increased by 53% to 18K tons for the first time since 2019, thus ending a two-year declining trend. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +10.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) surged to $15M in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9.7 | 9.5 | 9.1 | 8.0 | -6.2% |
| Thailand | N/A | 0.1 | 0.1 | 3.7 | 508.3% |
| South Korea | 1.1 | 1.1 | 1.0 | 1.0 | -3.1% |
| Taiwan (Chinese) | 0.9 | 0.7 | 0.8 | 0.7 | -8.0% |
| Australia | 0.6 | 0.6 | 0.6 | 0.6 | 0.0% |
| Mauritius | 0.3 | 0.5 | 0.3 | 0.3 | 0.0% |
| Others | 0.9 | 0.6 | 0.6 | 0.7 | -8.0% |
| Total | 13.6 | 13.2 | 12.4 | 14.9 | 3.1% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to Hong Kong SAR in 2022:
- China (7.7K tons)
- Thailand (7.5K tons)
- South Korea (0.9K tons)
- Australia (0.7K tons)
- Mauritius (0.4K tons)
- Taiwan (Chinese) (0.3K tons)
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of raw cane sugar (without flavoring or coloring matter, other), which decreased by -39.1% to 641 tons in 2022. In general, exports recorded a significant decrease. The smallest decline of -13.7% was in 2021.
In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) declined significantly to $1.1M in 2022. Overall, exports continue to indicate a sharp slump. The smallest decline of -23.4% was in 2020.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 1,314 | 913 | 808 | 582 | -23.8% |
| Canada | 191 | 246 | 170 | 207 | 2.7% |
| China | 416 | 201 | 24.3 | 57.3 | -48.4% |
| Singapore | 193 | 320 | 115 | 55.4 | -34.0% |
| United States | 190 | 84.6 | 136 | 48.8 | -36.4% |
| Netherlands | 40.0 | 33.2 | 23.9 | 22.1 | -17.9% |
| Others | 206 | 155 | 182 | 95.3 | -22.7% |
| Total | 2,550 | 1,953 | 1,460 | 1,067 | -25.2% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from Hong Kong SAR in 2022:
- Macao SAR (393.7 tons)
- Canada (110.9 tons)
- United States (45.4 tons)
- Singapore (20.9 tons)
- China (15.2 tons)
- Netherlands (11.7 tons)
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