Hong Kong SAR, China: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Hong Kong SAR, China

The Hong Kong refined maize oil market fell modestly to $X in 2022, which is down by X% against the previous year. In general, consumption continues to indicate a perceptible curtailment. Refined maize oil consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Refined Maize Oil Production in Hong Kong SAR, China

In value terms, refined maize oil production fell significantly to $X in 2022 estimated in export price. In general, production saw a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of X%. Refined maize oil production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Refined Maize Oil Exports

Exports from Hong Kong SAR, China

In 2022, the amount of refined maize (corn) oil exported from Hong Kong SAR reduced to X tons, falling by X% compared with 2021 figures. Overall, exports recorded a slight setback. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, refined maize oil exports expanded significantly 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 most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2017; afterwards, it flattened through to 2022.

Exports by Country

Macao SAR (X tons) was the main destination for refined maize oil exports from Hong Kong SAR, with a X% share of total exports. Moreover, refined maize oil exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), sevenfold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the United States (X% per year).

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

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

Export Prices by Country

The average refined maize oil export price stood at $X per ton in 2022, picking up by 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 was the most pronounced in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Australia ($X per ton), while the average price for exports to China ($X per ton) and Macao SAR ($X per ton) were 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 more modest paces of growth.

Refined Maize Oil Imports

Imports into Hong Kong SAR, China

In 2022, imports of refined maize (corn) oil into Hong Kong SAR shrank to X tons, waning by X% against the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, refined maize oil imports rose markedly to $X in 2022. Over the period under review, total imports indicated noticeable 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 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of refined maize oil to Hong Kong SAR, with a X% share of total imports. Moreover, refined maize oil imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sevenfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of refined maize (corn) oil to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the average refined maize oil import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Spain ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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