Hong Kong SAR, China: Butter And Ghee Market 2024

Butter And Ghee Market Size in Hong Kong SAR, China

In 2022, the Hong Kong butter and ghee market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Butter And Ghee Exports

Exports from Hong Kong SAR, China

Butter and ghee exports from Hong Kong SAR shrank dramatically to X tons in 2022, waning by X% against 2021. Over the period under review, exports recorded a slight curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and ghee exports dropped to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for butter and ghee exports from Hong Kong SAR, with a X% share of total exports. Moreover, butter and ghee exports to Macao SAR exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Singapore (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for butter and ghee exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and China (X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

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 Macao SAR ($X per ton), while the average price for exports to the Philippines ($X 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 (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Butter And Ghee Imports

Imports into Hong Kong SAR, China

Butter and ghee imports into Hong Kong SAR declined slightly to X tons in 2022, falling by X% on the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then dropped modestly in the following year.

In value terms, butter and ghee imports stood at $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

New Zealand (X tons), France (X tons) and Australia (X tons) were the main suppliers of butter and ghee imports to Hong Kong SAR, with a combined X% share of total imports. Malaysia, Denmark, Japan, China and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and ghee suppliers to Hong Kong SAR were New Zealand ($X), France ($X) and Australia ($X), together comprising X% of total imports. Denmark, Malaysia, Japan, China and India lagged somewhat behind, together comprising a further X%.

Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butter and ghee import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from New Zealand ($X per ton) and Denmark ($X per ton), while the price for Japan ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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