Hong Kong SAR, China: Paddy Rice Market 2024

Paddy Rice Market Size in Hong Kong SAR, China

The Hong Kong paddy rice market expanded remarkably to $X in 2022, surging by X% against the previous year. In general, consumption continues to indicate notable growth. Paddy rice consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Paddy Rice Production in Hong Kong SAR, China

In value terms, paddy rice production shrank notably to $X in 2022 estimated in export price. In general, production, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Paddy rice production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

In 2022, the average yield of paddy rice in Hong Kong SAR stood at less than X kg per ha, leveling off at the previous year's figure. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The paddy rice harvested area in Hong Kong SAR was estimated at less than X ha in 2022, remaining constant against the previous year. Overall, the harvested area showed a relatively flat trend pattern.

Paddy Rice Exports

Exports from Hong Kong SAR, China

In 2022, the amount of paddy rice exported from Hong Kong SAR contracted remarkably to X tons, waning by X% compared with the previous year. Overall, exports faced a precipitous setback. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, paddy rice exports fell dramatically to $X in 2022. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Samoa (X tons) was the main destination for paddy rice exports from Hong Kong SAR, with a X% share of total exports. Moreover, paddy rice exports to Samoa exceeded the volume sent to the second major destination, Bangladesh (X tons), threefold. Tonga (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Samoa stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Tonga (X% per year).

In value terms, Samoa ($X) emerged as the key foreign market for paddy rice exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Tonga ($X), with a X% share of total exports. It was followed by Zimbabwe, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Samoa totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tonga (X% per year) and Zimbabwe (X% per year).

Export Prices by Country

In 2022, the average paddy rice export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price recorded a prominent increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Samoa ($X per ton), while the average price for exports to Bangladesh ($X 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 Samoa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Paddy Rice Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of paddy rice increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a deep setback. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, paddy rice imports declined to $X in 2022. Overall, imports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest paddy rice supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, paddy rice imports from Thailand exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. The third position in this ranking was held by India (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and India (X% per year).

In value terms, Thailand ($X), China ($X) and the UK ($X) constituted the largest paddy rice suppliers to Hong Kong SAR, with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average paddy rice import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paddy rice import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 China ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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