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Hong Kong SAR, China - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Palm Oil Price in Hong Kong SAR - 2023
Contents:
- Refined Palm Oil Price in Hong Kong SAR (CIF) - 2023
- Refined Palm Oil Price in Hong Kong SAR (FOB) - 2022
- Refined Palm Oil Imports in Hong Kong SAR
- Refined Palm Oil Exports in Hong Kong SAR
Refined Palm Oil Price in Hong Kong SAR (CIF) - 2023
In September 2023, the average refined palm oil import price amounted to $1,221 per ton, waning by -14.4% against the previous month. Overall, the import price continues to indicate a slight downturn. The pace of growth was the most pronounced in March 2023 when the average import price increased by 18% against the previous month. As a result, import price attained the peak level of $1,703 per ton. From April 2023 to September 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was China ($2,044 per ton), while the price for Malaysia ($979 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced a decline.
Refined Palm Oil Price in Hong Kong SAR (FOB) - 2022
In 2022, the average refined palm oil export price amounted to $1,227 per ton, waning by -12.8% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 52% against the previous year. As a result, the export price reached the peak level of $1,406 per ton, and then reduced in the following year.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to +3.9% per year.
Refined Palm Oil Imports in Hong Kong SAR
In 2022, the amount of refined palm oil imported into Hong Kong SAR surged to 7.7K tons, picking up by 116% compared with the previous year. Over the period under review, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, refined palm oil imports surged to $13M in 2022. Overall, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Refined Palm Oil in Hong Kong SAR (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 2.5 | 2.5 | 3.3 | 6.5 | 37.5% |
China | 0.1 | 0.1 | 0.1 | 4.8 | 263.4% |
Indonesia | 0.6 | 0.4 | 1.0 | 1.3 | 29.4% |
Others | 0.1 | 0.1 | 0.2 | 0.3 | 44.2% |
Total | 3.2 | 3.1 | 4.7 | 12.9 | 59.2% |
Top Suppliers of Refined Palm Oil to Hong Kong SAR in 2022:
- Malaysia (4.2K tons)
- China (2.5K tons)
- Indonesia (0.8K tons)
Refined Palm Oil Exports in Hong Kong SAR
In 2022, approx. 70 tons of refined palm oil were exported from Hong Kong SAR; increasing by 46% compared with the previous year's figure. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +7.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.4% against 2020 indices.
In value terms, refined palm oil exports surged to $86K in 2022. The total export value increased at an average annual rate of +9.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Export of Refined Palm Oil in Hong Kong SAR (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Macao SAR | 22.0 | 30.3 | 46.9 | 86.0 | 57.5% |
Malaysia | N/A | 3.1 | N/A | N/A | 0% |
Micronesia | 42.4 | 30.9 | 20.4 | N/A | -30.6% |
Brunei Darussalam | N/A | 2.8 | N/A | N/A | 0% |
Others | 1.3 | N/A | N/A | N/A | 0% |
Total | 65.8 | 67.1 | 67.3 | 86.0 | 9.3% |
Top Export Markets for Refined Palm Oil from Hong Kong SAR in 2022:
- Macao SAR (70.1 tons)
This report provides an in-depth analysis of the refined palm oil market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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