Hong Kong SAR, China: Oil Crops Market 2024

Oil Crops Market Size in Hong Kong SAR, China

In 2022, the Hong Kong oil crops market increased by X% to $X, rising for the second consecutive year after two years of decline. The market 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 in certain years. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Oil Crops Production in Hong Kong SAR, China

In value terms, oil crops production rose remarkably to $X in 2022 estimated in export price. In general, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average yield of oil crops (primary) in Hong Kong SAR amounted to less than X kg per ha, stabilizing at the year before. Over the period under review, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of oil crops (primary) were harvested in Hong Kong SAR; remaining constant against the year before. In general, the harvested area recorded a relatively flat trend pattern.

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Oil Crops Exports

Exports from Hong Kong SAR, China

Oil crops exports from Hong Kong SAR fell rapidly to X tons in 2022, waning by X% compared with 2021. In general, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, oil crops exports contracted dramatically to $X in 2022. Overall, exports recorded a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Macao SAR (X tons) and Latvia (X tons) were the main destinations of oil crops exports from Hong Kong SAR, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Macao SAR ($X), China ($X) and Latvia ($X) constituted the largest markets for oil crops exported from Hong Kong SAR worldwide, together accounting for X% of total exports.

Macao SAR, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average oil crops export price amounted to $X per ton, rising by X% against the previous year. In general, export price indicated resilient 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. Based on 2022 figures, oil crops export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to China ($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%).

Oil Crops Imports

Imports into Hong Kong SAR, China

In 2022, the amount of oil crops (primary) imported into Hong Kong SAR dropped to X tons, reducing by X% against the previous year. In general, imports recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, oil crops imports declined to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Canada (X tons) constituted the largest oil crops supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, oil crops imports from Canada exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was taken by China (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and China (X% per year).

In value terms, Canada ($X) constituted the largest supplier of oil crops (primary) to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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