Price for Cheese of All Kinds, Grated or Powdered in Hong Kong SAR - 2023

Price for Cheese of All Kinds, Grated or Powdered in Hong Kong SAR (CIF) - 2023

The average import price for cheese of all kinds, grated or powdered stood at $6,911 per ton in November 2023, shrinking by -1.5% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 when the average import price increased by 37% month-to-month. Over the period under review, average import prices hit record highs at $9,629 per ton in December 2022; however, from January 2023 to November 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Australia ($17,642 per ton), while the price for New Zealand ($4,578 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cheese of All Kinds, Grated or Powdered in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for cheese of all kinds, grated or powdered amounted to $10,171 per ton, falling by -14% against the previous year. Overall, the export price saw a slight decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 29%. Over the period under review, the average export prices reached the maximum at $14,803 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($17,188 per ton), while the average price for exports to Macao SAR amounted to $9,359 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+23.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cheese of All Kinds, Grated or Powdered in Hong Kong SAR

In 2022, the amount of cheese of all kinds, grated or powdered imported into Hong Kong SAR surged to 1.1K tons, increasing by 21% compared with 2021. The total import volume increased at an average annual rate of +3.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of cheese of all kinds, grated or powdered skyrocketed to $8M in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Cheese of All Kinds, Grated or Powdered in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,938	2,010	1,389	1,243	-13.8%
Australia	1,377	1,267	1,100	1,127	-6.5%
United Kingdom	641	721	593	1,030	17.1%
Italy	914	659	1,064	995	2.9%
Malaysia	648	268	603	922	12.5%
New Zealand	660	350	378	688	1.4%
Netherlands	345	331	402	539	16.0%
Belgium	3.6	N/A	159	507	420.3%
Others	695	969	1,157	908	9.3%
Total	7,222	6,576	6,843	7,961	3.3%

Top Suppliers of Cheese of All Kinds, Grated or Powdered to Hong Kong SAR in 2022:

United Kingdom (192.9 tons)
Malaysia (168.6 tons)
United States (129.0 tons)
New Zealand (112.6 tons)
Italy (107.6 tons)
Belgium (86.7 tons)
Netherlands (82.1 tons)
Australia (80.8 tons)

Exports of Cheese of All Kinds, Grated or Powdered in Hong Kong SAR

In 2022, after three years of growth, there was significant decline in shipments abroad of cheese of all kinds, grated or powdered, when their volume decreased by -23.1% to 72 tons. In general, exports, however, posted a strong expansion. The growth pace was the most rapid in 2021 with an increase of 58% against the previous year. As a result, the exports attained the peak of 94 tons, and then shrank dramatically in the following year.

In value terms, exports of cheese of all kinds, grated or powdered reduced rapidly to $732K in 2022. Over the period under review, total exports indicated a noticeable expansion from 2019 to 2022: its value increased at an average annual rate of +3.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 32%. As a result, the exports reached the peak of $1.1M, and then shrank notably in the following year.