Price for Yarn; of Flax, Single in Hong Kong SAR - 2023

Contents:

1. Price for Yarn; of Flax, Single in Hong Kong SAR (CIF) - 2022
2. Price for Yarn; of Flax, Single in Hong Kong SAR (FOB) - 2022
3. Imports of Yarn; of Flax, Single in Hong Kong SAR
4. Exports of Yarn; of Flax, Single in Hong Kong SAR

Price for Yarn; of Flax, Single in Hong Kong SAR (CIF) - 2022

In 2022, the average yarn; of flax, single import price amounted to $30,752 per ton, increasing by 71% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue 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 ($51,131 per ton), while the price for China ($24,885 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Yarn; of Flax, Single in Hong Kong SAR (FOB) - 2022

The average yarn; of flax, single export price stood at $24,810 per ton in 2022, rising by 25% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yarn; of flax, single export price increased by +97.1% against 2017 indices. The growth pace was the most rapid in 2014 an increase of 50%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($28,162 per ton), while the average price for exports to Bangladesh ($11,324 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 (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Yarn; of Flax, Single in Hong Kong SAR

In 2022, imports of yarn; of flax, singles into Hong Kong SAR fell sharply to 66 tons, which is down by -71.5% on 2021. Overall, imports showed a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year.

In value terms, yarn; of flax, single imports contracted remarkably to $2M in 2022. Over the period under review, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 16%.

Top Suppliers of Yarn; of Flax, Single to Hong Kong SAR in 2022:

1. China (50.7 tons)
2. Italy (12.0 tons)
3. Japan (2.3 tons)

Exports of Yarn; of Flax, Single in Hong Kong SAR

In 2022, the amount of yarn; of flax, singles exported from Hong Kong SAR reduced remarkably to 69 tons, with a decrease of -65.8% against the previous year's figure. In general, exports recorded a significant contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year.

In value terms, yarn; of flax, single exports contracted remarkably to $1.7M in 2022. Overall, exports continue to indicate a dramatic descent. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. As a result, the exports reached the peak of $4M, and then fell sharply in the following year.

Top Export Markets for Yarn; of Flax, Single from Hong Kong SAR in 2022:

1. China (55.0 tons)
2. Vietnam (9.5 tons)
3. Bangladesh (3.9 tons)

Source: IndexBox Market Intelligence Platform