Hong Kong SAR, China: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Hong Kong SAR, China

In 2022, the Hong Kong refined coconut oil market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, showed a pronounced slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Coconut Oil Production in Hong Kong SAR, China

In value terms, refined coconut oil production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible slump. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of refined coconut (copra) oil was finally on the rise to reach X tons after four years of decline. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined coconut oil exports surged to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for refined coconut oil exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, refined coconut oil exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%.

In value terms, China ($X) remains the key foreign market for refined coconut (copra) oil exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Macao SAR ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%.

Export Prices by Country

In 2022, the average refined coconut oil export price amounted to $X per ton, falling by X% against the previous year. In general, the export price saw a noticeable descent. The growth pace was the most rapid in 2017 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced a decline.

Refined Coconut Oil Imports

Imports into Hong Kong SAR, China

After two years of decline, overseas purchases of refined coconut (copra) oil increased by X% to X tons in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, refined coconut oil imports soared to $X in 2022. In general, total imports indicated a tangible increase 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 pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), the Philippines (X tons) and Thailand (X tons) were the main suppliers of refined coconut oil imports to Hong Kong SAR, with a combined X% share of total imports.

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

In value terms, the largest refined coconut oil suppliers to Hong Kong SAR were the Philippines ($X), Malaysia ($X) and Thailand ($X), together comprising X% of total imports.

The Philippines, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average refined coconut oil import price amounted to $X per ton, dropping by X% against the previous year. Overall, import price indicated pronounced 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, refined coconut oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted rapidly in the following year.

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

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

Source: IndexBox Platform

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