Hong Kong SAR, China: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Hong Kong SAR, China

The Hong Kong market for fresh or chilled pig meat other than cuts or carcases stood at $X in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a strong expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports from Hong Kong SAR, China

For the sixth consecutive year, Hong Kong SAR recorded decline in shipments abroad of fresh or chilled pig meat other than cuts or carcases, which decreased by -11.2% to X tons in 2022. In general, exports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2013 with an increase of 50% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases plummeted to $X in 2022. Overall, exports showed a significant curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for exports of fresh or chilled pig meat other than cuts or carcases from Hong Kong SAR, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR stood at -12.5%.

In value terms, Macao SAR ($X) also remains the key foreign market for fresh or chilled pig meat other than cuts or carcases exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at -16.5%.

Export Prices by Country

In 2022, the average export price for fresh or chilled pig meat other than cuts or carcases amounted to $X per ton, reducing by -39.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 76% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Macao SAR.

From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to -4.6% per year.

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports into Hong Kong SAR, China

In 2022, approx. X tons of fresh or chilled pig meat other than cuts or carcases were imported into Hong Kong SAR; growing by 14% against 2021. In general, imports showed a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 95%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases contracted to $X in 2022. Overall, imports enjoyed buoyant growth. The growth pace was the most rapid in 2019 when imports increased by 120%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main fresh pork other than cuts or carcases supplier to Hong Kong SAR, accounting for a 91% share of total imports. It was followed by Australia (X tons), with a 2.7% share of total imports. The third position in this ranking was taken by Thailand (X tons), with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+14.5% per year) and Thailand (+21.9% per year).

In value terms, China ($X) constituted the largest supplier of fresh or chilled pig meat other than cuts or carcases to Hong Kong SAR, comprising 85% of total imports. The second position in the ranking was held by Australia ($X), with a 4.8% share of total imports. It was followed by Canada, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+11.3% per year) and Canada (+23.2% per year).

Import Prices by Country

The average import price for fresh or chilled pig meat other than cuts or carcases stood at $X per ton in 2022, reducing by -13.8% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fresh or chilled pig meat other than cuts or carcases decreased by -13.9% against 2020 indices. The growth pace was the most rapid in 2015 an increase of 29% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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