Nitrites; Nitrates Price in Hong Kong SAR - 2023
Contents:
- Nitrites; Nitrates Price in Hong Kong SAR (CIF) - 2022
- Nitrites; Nitrates Price in Hong Kong SAR (FOB) - 2022
- Nitrites; Nitrates Imports in Hong Kong SAR
- Nitrites; Nitrates Exports in Hong Kong SAR
Nitrites; Nitrates Price in Hong Kong SAR (CIF) - 2022
The average nitrites; nitrates import price stood at $358 per ton in 2022, falling by -4.7% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrites; nitrates import price increased by +39.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 29% against the previous year. The import price peaked at $376 per ton in 2021, and then fell slightly in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($425 per ton), while the price for Malaysia totaled $321 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.7%).
Nitrites; Nitrates Price in Hong Kong SAR (FOB) - 2022
The average nitrites; nitrates export price stood at $3,778 per ton in 2022, rising by 52% against the previous year. Over the period under review, the export price showed tangible growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 65% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($12,530 per ton), while the average price for exports to Taiwan (Chinese) ($1,084 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 Netherlands (-0.3%), while the prices for the other major destinations experienced a decline.
Nitrites; Nitrates Imports in Hong Kong SAR
In 2022, approx. 4.4K tons of nitrites; nitrateses were imported into Hong Kong SAR; reducing by -13.7% on the year before. In general, imports, however, showed a slight increase. The growth pace was the most rapid in 2021 when imports increased by 20% against the previous year. As a result, imports attained the peak of 5.1K tons, and then contracted in the following year.
In value terms, nitrites; nitrates imports reduced remarkably to $1.6M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.9% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 36%. As a result, imports attained the peak of $1.9M, and then reduced notably in the following year.
| Import of Nitrites; Nitrates in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 732 | 697 | 776 | 1,249 | 19.5% |
| China | 89.1 | 478 | 833 | 170 | 24.0% |
| Others | 264 | 218 | 290 | 142 | -18.7% |
| Total | 1,085 | 1,392 | 1,898 | 1,561 | 12.9% |
Top Suppliers of Nitrites; Nitrates to Hong Kong SAR in 2022:
- Malaysia (3.9K tons)
- China (0.4K tons)
Nitrites; Nitrates Exports in Hong Kong SAR
In 2022, exports of nitrites; nitrateses from Hong Kong SAR contracted markedly to 16 tons, shrinking by -94.2% against the year before. Overall, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2021 with an increase of 94%. As a result, the exports reached the peak of 269 tons, and then contracted significantly in the following year.
In value terms, nitrites; nitrates exports shrank remarkably to $59K in 2022. In general, exports faced a significant curtailment. The growth pace was the most rapid in 2021 with an increase of 171% against the previous year. As a result, the exports reached the peak of $669K, and then shrank notably in the following year.
| Export of Nitrites; Nitrates in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 21.0 | 30.6 | 81.0 | 33.3 | 16.6% |
| Argentina | N/A | N/A | N/A | 12.5 | 0% |
| Taiwan (Chinese) | 155 | 128 | 175 | 10.0 | -59.9% |
| China | 115 | 6.7 | 97.1 | 2.9 | -70.7% |
| United States | 119 | N/A | 284 | N/A | 54.5% |
| Others | N/A | 82.2 | 31.5 | N/A | -61.7% |
| Total | 410 | 247 | 669 | 58.7 | -47.7% |
Top Export Markets for Nitrites; Nitrates from Hong Kong SAR in 2022:
- Taiwan (Chinese) (9.2 tons)
- Netherlands (4.0 tons)
- China (1.3 tons)
- Argentina (1.0 tons)
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