Liqueurs and Cordials Price in Hong Kong SAR - 2023
Contents:
- Liqueurs and Cordials Price in Hong Kong SAR (CIF) - 2023
- Liqueurs and Cordials Price in Hong Kong SAR (FOB) - 2023
- Liqueurs and Cordials Imports in Hong Kong SAR
- Liqueurs and Cordials Exports in Hong Kong SAR
Liqueurs and Cordials Price in Hong Kong SAR (CIF) - 2023
In June 2023, the average liqueurs and cordials import price amounted to $8.4 per litre, declining by -5.2% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.9%. The most prominent rate of growth was recorded in December 2022 an increase of 40% m-o-m. The import price peaked at $9.5 per litre in April 2023; however, from May 2023 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Singapore ($24.2 per litre), while the price for Japan ($3.6 per litre) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Singapore (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Liqueurs and Cordials Price in Hong Kong SAR (FOB) - 2023
The average liqueurs and cordials export price stood at $20.0 per litre in June 2023, rising by 26% against the previous month. Overall, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in November 2022 when the average export price increased by 229% m-o-m. Over the period under review, the average export prices attained the maximum at $42.5 per litre in December 2022; however, from January 2023 to June 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($70.1 per litre), while the average price for exports to Cambodia ($11.7 per litre) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mongolia (+68.6%), while the prices for the other major destinations experienced more modest paces of growth.
Liqueurs and Cordials Imports in Hong Kong SAR
In 2022, approx. 628K litres of liqueurs and cordialses were imported into Hong Kong SAR; falling by -6.3% on 2021 figures. Over the period under review, imports continue to indicate a abrupt downturn. Imports peaked at 852K litres in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, liqueurs and cordials imports plummeted to $4.9M in 2022. In general, imports faced a precipitous decrease. The smallest decline of -11.7% was in 2020. Over the period under review, imports attained the maximum at $24M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Liqueurs and Cordials in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 0.6 | 0.8 | 1.0 | 0.8 | 10.1% |
| Netherlands | 0.6 | 0.5 | 0.6 | 0.7 | 5.3% |
| China | N/A | 0.1 | 0.2 | 0.7 | 164.6% |
| Singapore | 0.9 | 1.0 | 0.6 | 0.5 | -17.8% |
| Japan | 0.4 | 0.5 | 0.7 | 0.5 | 7.7% |
| France | 0.5 | 0.2 | 0.4 | 0.3 | -15.7% |
| Germany | 0.3 | 0.3 | 0.8 | 0.3 | 0.0% |
| United States | 0.5 | 0.2 | 0.3 | 0.2 | -26.3% |
| Mexico | N/A | N/A | 0.5 | 0.2 | -60.0% |
| United Kingdom | 19.4 | 17.0 | 3.6 | 0.2 | -78.2% |
| Ireland | N/A | 0.1 | N/A | 0.1 | 0.0% |
| Spain | 0.5 | 0.1 | N/A | N/A | -80.0% |
| Others | 0.4 | 0.4 | 0.3 | 0.3 | -9.1% |
| Total | 24.2 | 21.3 | 8.9 | 4.9 | -41.3% |
Top Suppliers of Liqueurs and Cordials to Hong Kong SAR in 2022:
- China (131.9K litres)
- Italy (104.4K litres)
- Netherlands (85.5K litres)
- Japan (51.4K litres)
- Germany (46.1K litres)
- Singapore (41.7K litres)
- France (31.6K litres)
- Mexico (29.5K litres)
- United States (25.6K litres)
- Ireland (15.3K litres)
- United Kingdom (14.8K litres)
- Spain (6.2K litres)
Liqueurs and Cordials Exports in Hong Kong SAR
After two years of decline, shipments abroad of liqueurs and cordialses increased by 90% to 173K litres in 2022. Overall, exports, however, continue to indicate a sharp contraction. The exports peaked at 351K litres in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, liqueurs and cordials exports skyrocketed to $2.8M in 2022. In general, exports, however, showed a sharp decline. Over the period under review, the exports attained the maximum at $5.4M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Liqueurs and Cordials in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 748 | N/A | N/A | 1,381 | 22.7% |
| China | 779 | 761 | 745 | 788 | 0.4% |
| Macao SAR | 1,006 | 168 | 257 | 215 | -40.2% |
| South Korea | 1,109 | 354 | N/A | 171 | -46.4% |
| Russia | N/A | N/A | 54.8 | 115 | 109.9% |
| Singapore | 165 | 21.8 | 28.2 | 37.8 | -38.8% |
| Cambodia | 1,388 | 0.2 | 40.0 | N/A | -83.0% |
| Others | 235 | 132 | 13.4 | 44.5 | -42.6% |
| Total | 5,430 | 1,436 | 1,138 | 2,753 | -20.3% |
Top Export Markets for Liqueurs and Cordials from Hong Kong SAR in 2022:
- Indonesia (68.4K litres)
- China (64.3K litres)
- Macao SAR (21.5K litres)
- Russia (8.0K litres)
- South Korea (6.3K litres)
- Singapore (3.1K litres)
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