Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR - 2023

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR (CIF) - 2022
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR (FOB) - 2022
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR (CIF) - 2022

The average import price for crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses stood at $9,724 per ton in 2022, declining by -8.5% against the previous year. Overall, the import price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 70%. Over the period under review, average import prices hit record highs at $10,629 per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($23,557 per ton), while the price for China ($3,704 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR (FOB) - 2022

The average export price for crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses stood at $11,078 per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 19% against the previous year. As a result, the export price reached the peak level of $12,995 per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($11,474 per ton), while the average price for exports to the United States stood at $10,383 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+41.3%), while the prices for the other major destinations experienced a decline.

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR

For the fourth consecutive year, Hong Kong SAR recorded growth in purchases abroad of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses, which increased by 9.7% to 56 tons in 2022. In general, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +25.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 40% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses amounted to $544K in 2022. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 78%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers to Hong Kong SAR in 2022:

1. Taiwan (Chinese) (52.1 tons)
2. Japan (3.2 tons)
3. China (0.5 tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Hong Kong SAR

In 2022, overseas shipments of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses decreased by -20% to 25 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 33%. As a result, the exports reached the peak of 32 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses contracted rapidly to $273K in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 37%. As a result, the exports attained the peak of $355K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers from Hong Kong SAR in 2022:

1. Australia (15.7 tons)
2. United States (9.0 tons)

Source: IndexBox Market Intelligence Platform