Spices; Saffron Price in Hong Kong SAR - 2023
Contents:
- Spices; Saffron Price in Hong Kong SAR (CIF) - 2022
- Spices; Saffron Price in Hong Kong SAR (FOB) - 2022
- Spices; Saffron Imports in Hong Kong SAR
- Spices; Saffron Exports in Hong Kong SAR
Spices; Saffron Price in Hong Kong SAR (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $335,414 per ton, which is down by -30% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 30% against the previous year. Over the period under review, average import prices reached the peak figure at $479,327 per ton in 2021, and then fell notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($877,874 per ton), while the price for Singapore ($111,661 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+12.0%), while the prices for the other major suppliers experienced a decline.
Spices; Saffron Price in Hong Kong SAR (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $753,915 per ton, waning by -25.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 231% against the previous year. As a result, the export price attained the peak level of $1,008,585 per ton, and then contracted remarkably in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($1,931,137 per ton), while the average price for exports to Macao SAR ($95,553 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 Italy (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in Hong Kong SAR
In 2022, overseas purchases of spices; saffra decreased by -84.8% to 3.6 tons, falling for the second consecutive year after two years of growth. Overall, imports recorded a sharp decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 10%. As a result, imports attained the peak of 93 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; saffron imports shrank markedly to $1.2M in 2022. In general, imports saw a precipitous setback. The growth pace was the most rapid in 2020 when imports increased by 5.8%. As a result, imports attained the peak of $36M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Spices; Saffron in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.2 | N/A | N/A | 0.5 | 35.7% |
| United Arab Emirates | 0.9 | 0.8 | 0.2 | 0.4 | -23.7% |
| Spain | 0.6 | 0.6 | 0.3 | 0.2 | -30.7% |
| Iran | 31.7 | 34.4 | 8.8 | 0.1 | -85.3% |
| China | 0.1 | N/A | N/A | N/A | 0% |
| Singapore | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Others | 0.2 | 0.1 | 1.9 | N/A | 208.2% |
| Total | 34.0 | 36.0 | 11.3 | 1.2 | -67.2% |
Top Suppliers of Spices; Saffron to Hong Kong SAR in 2022:
- United Arab Emirates (1758.0 kg)
- Spain (606.0 kg)
- India (573.0 kg)
- Singapore (378.0 kg)
- Iran (151.0 kg)
- China (114.0 kg)
Spices; Saffron Exports in Hong Kong SAR
In 2022, the amount of spices; saffra exported from Hong Kong SAR dropped notably to 234 kg, with a decrease of -93.4% on 2021. In general, exports recorded a significant contraction. The smallest decline of -36.4% was in 2020.
In value terms, spices; saffron exports declined dramatically to $176K in 2022. Over the period under review, exports faced a dramatic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 49%.
| Export of Spices; Saffron in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,018 | 1,509 | 3,404 | 141 | -48.3% |
| Taiwan (Chinese) | 275 | 414 | N/A | 22.6 | -56.5% |
| Macao SAR | 43.7 | 476 | 177 | 10.9 | -37.1% |
| Saudi Arabia | 4,024 | N/A | N/A | N/A | 0% |
| Others | 82.6 | 6.6 | N/A | 1.9 | -71.6% |
| Total | 5,444 | 2,406 | 3,580 | 176 | -68.1% |
Top Export Markets for Spices; Saffron from Hong Kong SAR in 2022:
- Macao SAR (114.0 kg)
- China (73.0 kg)
- Taiwan (Chinese) (45.0 kg)
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