Gum Arabic Price in Hong Kong SAR - 2023
Contents:
- Gum Arabic Price in Hong Kong SAR (CIF) - 2022
- Gum Arabic Price in Hong Kong SAR (FOB) - 2022
- Gum Arabic Imports in Hong Kong SAR
- Gum Arabic Exports in Hong Kong SAR
Gum Arabic Price in Hong Kong SAR (CIF) - 2022
The average gum arabic import price stood at $7,973 per ton in 2022, declining by -2.3% against the previous year. In general, the import price, however, saw notable growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 387%. As a result, import price reached the peak level of $16,184 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($20,742 per ton), while the price for China ($1,473 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Gum Arabic Price in Hong Kong SAR (FOB) - 2022
The average gum arabic export price stood at $4,759 per ton in 2022, declining by -7.3% against the previous year. In general, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 79% against the previous year. Over the period under review, the average export prices hit record highs at $10,616 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($5,523 per ton), while the average price for exports to Panama ($1,690 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 the Philippines (-6.9%), while the prices for the other major destinations experienced a decline.
Gum Arabic Imports in Hong Kong SAR
In 2022, gum arabic imports into Hong Kong SAR shrank markedly to 4 tons, with a decrease of -60.3% compared with the year before. Overall, imports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 81%. As a result, imports reached the peak of 10 tons, and then declined remarkably in the following year.
In value terms, gum arabic imports dropped rapidly to $32K in 2022. Over the period under review, imports saw a dramatic contraction. The pace of growth appeared the most rapid in 2021 with an increase of 5% against the previous year.
| Import of Gum Arabic in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 45.6 | 30.3 | 28.0 | 20.2 | -23.8% |
| India | 1.9 | N/A | 2.6 | 5.2 | 39.9% |
| Germany | 4.7 | 4.1 | 4.5 | 4.8 | 0.7% |
| China | 2.7 | 2.2 | 2.5 | 1.8 | -12.6% |
| Philippines | 2.0 | 1.7 | 2.1 | N/A | 2.5% |
| Singapore | 1.7 | 1.4 | 1.6 | N/A | -3.0% |
| Italy | 3.4 | 3.4 | 4.7 | N/A | 17.6% |
| United States | 18.9 | 25.3 | 8.0 | N/A | -34.9% |
| Others | 10.3 | 10.3 | 28.6 | N/A | 66.6% |
| Total | 91.2 | 78.7 | 82.6 | 32.1 | -29.4% |
Top Suppliers of Gum Arabic to Hong Kong SAR in 2022:
- China (1.2 tons)
- India (1.2 tons)
- United Kingdom (1.0 tons)
- Germany (0.6 tons)
Gum Arabic Exports in Hong Kong SAR
In 2022, after three years of growth, there was significant decline in shipments abroad of gum arabics, when their volume decreased by -7.9% to 7.1 tons. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 634%.
In value terms, gum arabic exports contracted to $34K in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 510%.
| Export of Gum Arabic in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.9 | 7.8 | 33.3 | 28.3 | 146.0% |
| Philippines | 0.7 | 1.8 | 3.1 | 2.9 | 60.6% |
| Panama | 0.9 | 1.8 | 2.2 | 1.5 | 18.6% |
| South Africa | N/A | 15.7 | N/A | N/A | 0% |
| Others | 1.1 | 0.7 | 0.8 | 0.9 | -6.5% |
| Total | 4.6 | 27.8 | 39.4 | 33.6 | 94.0% |
Top Export Markets for Gum Arabic from Hong Kong SAR in 2022:
- China (5.1 tons)
- Philippines (0.9 tons)
- Panama (0.9 tons)
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