Price for Cereal Groats and Meal; of Wheat in Hong Kong SAR - 2023

Price for Cereal Groats and Meal; of Wheat in Hong Kong SAR (CIF) - 2022

The average import price for cereal groats and meal; of wheats stood at $799 per ton in 2022, surging by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2015 when the average import price increased by 28%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($1,954 per ton), while the price for Australia ($673 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cereal Groats and Meal; of Wheat in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of wheats amounted to $450 per ton, leveling off at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 39%. As a result, the export price reached the peak level of $587 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.5% per year.

Imports of Cereal Groats and Meal; of Wheat in Hong Kong SAR

In 2022, imports of cereal groats and meal; of wheats into Hong Kong SAR reduced markedly to 523 tons, which is down by -82% on 2021. Over the period under review, imports recorded a dramatic setback. The growth pace was the most rapid in 2021 with an increase of 4.8%.

In value terms, imports of cereal groats and meal; of wheats fell sharply to $418K in 2022. Overall, imports faced a dramatic curtailment. The growth pace was the most rapid in 2021 when imports increased by 11%.

Import of Cereal Groats and Meal; of Wheat in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	1,991	1,632	1,865	284	-47.8%
India	95.0	58.3	103	94.7	-0.1%
Italy	67.7	56.1	63.6	35.4	-19.4%
Russia	14.5	76.0	N/A	N/A	424.1%
Others	23.2	0.4	N/A	4.1	-43.9%
Total	2,191	1,822	2,032	418	-42.4%

Top Suppliers of Cereal Groats and Meal; of Wheat to Hong Kong SAR in 2022:

Australia (421.9 tons)
India (79.5 tons)
Italy (18.1 tons)

Exports of Cereal Groats and Meal; of Wheat in Hong Kong SAR

In 2022, exports of cereal groats and meal; of wheats from Hong Kong SAR contracted significantly to 532 tons, with a decrease of -80.4% against the year before. Overall, exports faced a sharp decline. The pace of growth was the most pronounced in 2021 with an increase of 3.6%.

In value terms, exports of cereal groats and meal; of wheats fell rapidly to $240K in 2022. Over the period under review, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 3.1%. As a result, the exports attained the peak of $1.2M, and then dropped markedly in the following year.