Price for Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR - 2022

Contents:

1. Price for Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR (FOB) - 2022
2. Price for Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR (CIF) - 2022
3. Exports of Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR
4. Imports of Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR

Price for Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock)s amounted to $9,116 per ton, jumping by 23% against the previous year. In general, the export price showed a tangible increase. The most prominent rate of growth was recorded in 2015 an increase of 99%. Over the period under review, the average export prices reached the maximum at $23,096 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($29,500 per ton), while the average price for exports to the UK ($5,660 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 Bangladesh (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR (CIF) - 2022

The average import price for silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock)s stood at $1,667 per ton in 2022, shrinking by -15.5% against the previous year. Overall, the import price recorded a drastic downturn. The growth pace was the most rapid in 2014 when the average import price increased by 45% against the previous year. As a result, import price reached the peak level of $3,967 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($722,000 per ton), while the price for Taiwan (Chinese) ($185 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+35.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR

In 2022, shipments abroad of silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock)s decreased by -34.1% to 3.4 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 184% against the previous year. As a result, the exports reached the peak of 7.8 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock)s contracted markedly to $31K in 2022. Overall, exports continue to indicate a slight reduction. The growth pace was the most rapid in 2020 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $47K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) from Hong Kong SAR in 2022:

1. United Kingdom (2.7 tons)
2. Bangladesh (0.7 tons)

Imports of Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) in Hong Kong SAR

In 2022, approx. 825 kg of silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock)s were imported into Hong Kong SAR; with an increase of 24% compared with the year before. In general, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +23.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +88.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of silk waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock)s expanded sharply to $1.4K in 2022. The total import value increased at an average annual rate of +5.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 5.1% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Silk Waste (Including Cocoons Unsuitable for Reeling, Yarn Waste and Garnetted Stock) to Hong Kong SAR in 2022:

1. Taiwan (Chinese) (788.0 kg)
2. United States (31.0 kg)

Source: IndexBox Market Intelligence Platform