Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR - 2023
Contents:
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR (CIF) - 2023
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR (FOB) - 2023
- Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR
- Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR (CIF) - 2023
The average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $778 per ton in November 2023, standing approximately at the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.9%. The most prominent rate of growth was recorded in July 2023 when the average import price increased by 7% m-o-m. Over the period under review, average import prices hit record highs in November 2023.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the countries with the highest prices were China ($838 per ton) and South Korea ($759 per ton), while the price for Malaysia ($705 per ton) and Thailand ($708 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by South Korea (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR (FOB) - 2023
The average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $829 per ton in November 2023, surging by 15% against the previous month. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 an increase of 17% against the previous month. The export price peaked in November 2023.
There were significant differences in the average prices for the major overseas markets. In November 2023, the country with the highest price was Macao SAR ($917 per ton), while the average price for exports to China totaled $411 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR
In 2022, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose into Hong Kong SAR declined to 131K tons, which is down by -6% on the previous year. In general, imports continue to indicate a drastic downturn.
In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $81M in 2022. Over the period under review, imports showed a pronounced shrinkage.
| Import of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 31.9 | 30.1 | 43.2 | 41.5 | 9.2% |
| Thailand | 40.3 | 22.2 | 15.4 | 22.0 | -18.3% |
| China | 9.7 | 7.5 | 11.3 | 11.6 | 6.1% |
| Malaysia | 3.3 | 8.5 | 1.8 | 2.4 | -10.1% |
| Others | 5.9 | 2.9 | 4.3 | 3.6 | -15.2% |
| Total | 91.1 | 71.3 | 76.0 | 81.1 | -3.8% |
Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Hong Kong SAR in 2022:
- South Korea (70.0K tons)
- Thailand (37.7K tons)
- China (15.5K tons)
- Malaysia (3.9K tons)
Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR
In 2022, approx. 11K tons of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose were exported from Hong Kong SAR; with a decrease of -14.4% compared with the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 70% against the previous year. As a result, the exports attained the peak of 13K tons, and then shrank in the following year.
In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose fell significantly to $6.4M in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 65%. As a result, the exports attained the peak of $7.6M, and then shrank rapidly in the following year.
| Export of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 3.1 | 2.3 | 3.0 | 2.5 | -6.9% |
| China | 3.0 | 1.9 | 4.4 | 2.2 | -9.8% |
| Philippines | N/A | 0.1 | N/A | 1.3 | 260.6% |
| Others | 0.4 | 0.3 | 0.2 | 0.3 | -9.1% |
| Total | 6.5 | 4.6 | 7.6 | 6.4 | -0.5% |
Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Hong Kong SAR in 2022:
- China (6.5K tons)
- Macao SAR (3.1K tons)
- Philippines (1.4K tons)
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