Hong Kong SAR, China: Root And Tuber Market 2024

Root And Tuber Market Size in Hong Kong SAR, China

In 2022, the Hong Kong root and tuber market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Root And Tuber Production in Hong Kong SAR, China

In value terms, root and tuber production dropped to $X in 2022 estimated in export price. In general, the total production indicated modest growth from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Root and tuber production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

In 2022, the average root and tuber yield in Hong Kong SAR contracted to X tons per ha, therefore, remained relatively stable against the previous year's figure. Overall, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the yield increased by X% against the previous year. The root and tuber yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of roots and tubers in Hong Kong SAR totaled X ha, remaining stable against 2021 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to root and tuber production attained the maximum in 2022 and is likely to see gradual growth in years to come.

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Root And Tuber Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of roots and tubers decreased by X% to X tons in 2022. In general, exports saw a mild descent. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, root and tuber exports shrank modestly to $X in 2022. Over the period under review, exports, however, saw a pronounced increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for root and tuber exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, root and tuber exports to Macao SAR exceeded the volume sent to the second major destination, Australia (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the United States (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for roots and tubers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average root and tuber export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a noticeable increase. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Panama ($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 Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Root And Tuber Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of roots and tubers increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, root and tuber imports skyrocketed to $X in 2022. In general, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of root and tuber to Hong Kong SAR, accounting for a X% share of total imports. Moreover, root and tuber imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of roots and tubers to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Australia (X% per year).

Import Prices by Country

The average root and tuber import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price showed a slight descent. The most prominent rate of growth was recorded in 2020 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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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