Onion Price in Hong Kong SAR - 2024
Contents:
- Onion Price in Hong Kong SAR (CIF) - 2024
- Onion Price in Hong Kong SAR (FOB) - 2022
- Onion Imports in Hong Kong SAR
- Onion Exports in Hong Kong SAR
Onion Price in Hong Kong SAR (CIF) - 2024
The average onion import price stood at $954 per ton in February 2024, reducing by -2.1% against the previous month. Over the period under review, the import price recorded a noticeable downturn. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 23% against the previous month. Over the period under review, average import prices reached the maximum at $1,411 per ton in February 2023; however, from March 2023 to February 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,630 per ton), while the price for China ($685 per ton) was amongst the lowest.
From February 2023 to February 2024, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Onion Price in Hong Kong SAR (FOB) - 2022
In 2022, the average onion export price amounted to $857 per ton, dropping by -32.4% against the previous year. In general, the export price, however, continues to indicate pronounced growth. The pace of growth was the most pronounced in 2015 an increase of 80%. The export price peaked at $1,269 per ton in 2021, and then shrank significantly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($1,012 per ton), while the average price for exports to Vietnam ($295 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 Macao SAR (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.
Onion Imports in Hong Kong SAR
After three years of growth, overseas purchases of onions (dry) decreased by -81.4% to 6.9K tons in 2022. Over the period under review, imports, however, saw modest growth. The growth pace was the most rapid in 2020 with an increase of 261% against the previous year.
In value terms, onion imports fell sharply to $6.6M in 2022. In general, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 443% against the previous year.
| Import of Onion in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 0.2 | 1.6 | 3.9 | 2.4 | 128.9% |
| New Zealand | 1.0 | 3.1 | 3.8 | 1.3 | 9.1% |
| Australia | 1.0 | 1.0 | 1.0 | 1.0 | 0.0% |
| Japan | 0.6 | 1.0 | 0.9 | 0.6 | 0.0% |
| United States | 0.8 | 0.9 | 0.5 | 0.5 | -14.5% |
| China | 0.4 | 0.7 | 0.9 | 0.5 | 7.7% |
| India | 0.1 | 15.5 | 26.5 | 0.1 | 0.0% |
| Others | 0.3 | 0.6 | 1.2 | 0.2 | -12.6% |
| Total | 4.5 | 24.4 | 38.7 | 6.6 | 13.6% |
Top Suppliers of Onion to Hong Kong SAR in 2022:
- Netherlands (2431.8 tons)
- New Zealand (1671.1 tons)
- China (1099.4 tons)
- Australia (801.4 tons)
- United States (310.4 tons)
- Japan (210.9 tons)
- India (205.8 tons)
Onion Exports in Hong Kong SAR
In 2022, overseas shipments of onions (dry) decreased by -81.9% to 1.7K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 899% against the previous year.
In value terms, onion exports declined rapidly to $1.5M in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,341%.
| Export of Onion in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 0.1 | 4.5 | 11.7 | 1.2 | 128.9% |
| Malaysia | N/A | N/A | N/A | 0.1 | 0% |
| China | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Macao SAR | 0.2 | 0.2 | 0.1 | N/A | -29.3% |
| Vietnam | N/A | N/A | 0.4 | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 0.3 | 4.8 | 12.2 | 1.5 | 71.0% |
Top Export Markets for Onion from Hong Kong SAR in 2022:
- Philippines (1280.3 tons)
- Malaysia (187.6 tons)
- Vietnam (164.5 tons)
- China (53.8 tons)
- Macao SAR (31.1 tons)
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