Price for Cereal Groats; Meal and Pellets in Hong Kong SAR - 2023

Price for Cereal Groats; Meal and Pellets in Hong Kong SAR (CIF) - 2023

In June 2023, the average import price for cereal groats; meal and pelletses amounted to $3,075 per ton, with an increase of 51% against the previous month. Over the period under review, the import price saw strong growth. The growth pace was the most rapid in December 2022 an increase of 72% m-o-m. The import price peaked in June 2023.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($3,702 per ton), while the price for India ($547 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+9.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cereal Groats; Meal and Pellets in Hong Kong SAR (FOB) - 2022

The average export price for cereal groats; meal and pelletses stood at $512 per ton in 2022, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 39% against the previous year. As a result, the export price attained the peak level of $587 per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($2,831 per ton), while the average price for exports to China stood at $459 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+3.1%).

Imports of Cereal Groats; Meal and Pellets in Hong Kong SAR

In 2022, after three years of growth, there was significant decline in supplies from abroad of cereal groats; meal and pelletses, when their volume decreased by -34.4% to 4.1K tons. In general, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 7.9%. As a result, imports attained the peak of 6.3K tons, and then shrank significantly in the following year.

In value terms, cereal groats; meal and pellets imports shrank significantly to $2.7M in 2022. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of $3.8M, and then declined notably in the following year.

Import of Cereal Groats; Meal and Pellets in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	993	1,171	1,032	990	-0.1%
Indonesia	N/A	N/A	220	689	213.2%
Australia	1,947	1,632	2,017	431	-39.5%
China	49.5	53.8	66.4	164	49.1%
India	92.9	58.3	103	94.7	0.6%
Others	352	268	339	346	-0.6%
Total	3,434	3,183	3,778	2,715	-7.5%

Top Suppliers of Cereal Groats; Meal and Pellets to Hong Kong SAR in 2022:

Spain (2161.7 tons)
Indonesia (1160.7 tons)
Australia (533.2 tons)
India (79.5 tons)
China (69.0 tons)

Exports of Cereal Groats; Meal and Pellets in Hong Kong SAR

In 2022, exports of cereal groats; meal and pelletses from Hong Kong SAR declined significantly to 525 tons, reducing by -80.6% against the previous year. In general, exports continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2021 with an increase of 3.6% against the previous year.

In value terms, cereal groats; meal and pellets exports contracted sharply to $269K in 2022. Overall, exports recorded a significant curtailment. The pace of growth was the most pronounced in 2021 with an increase of 3.1% against the previous year. As a result, the exports reached the peak of $1.2M, and then fell remarkably in the following year.