Price for Cereal Groats and Meal; of Maize (Corn) in Hong Kong SAR - 2023

Price for Cereal Groats and Meal; of Maize (Corn) in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $523 per ton, increasing by 12% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 12% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($594 per ton), while the price for Spain totaled $458 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $738 per ton, increasing by 3.7% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 5.8% against the previous year. The export price peaked at $1,418 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to -7.1% per year.

Imports of Cereal Groats and Meal; of Maize (Corn) in Hong Kong SAR

For the fourth year in a row, Hong Kong SAR recorded growth in supplies from abroad of cereal groats and meal; of maize (corn)s, which increased by 4.5% to 3.4K tons in 2022. The total import volume increased at an average annual rate of +8.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 16%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of cereal groats and meal; of maize (corn)s soared to $1.8M in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +15.6% 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 +54.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 19%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Import of Cereal Groats and Meal; of Maize (Corn) in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	376	479	467	990	38.1%
Indonesia	N/A	N/A	99.5	689	592.5%
France	178	171	164	N/A	-4.0%
Netherlands	51.9	58.4	65.7	N/A	12.5%
Others	535	560	714	82.6	-46.4%
Total	1,141	1,269	1,510	1,762	15.6%

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Hong Kong SAR in 2022:

Spain (2.2K tons)
Indonesia (1.2K tons)

Exports of Cereal Groats and Meal; of Maize (Corn) in Hong Kong SAR

In 2022, approx. 1K tons of cereal groats and meal; of maize (corn)s were exported from Hong Kong SAR; growing by 5.8% compared with 2021. The total export volume increased at an average annual rate of +5.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 5.8% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of cereal groats and meal; of maize (corn)s expanded sharply to $751K in 2022. The total export value increased at an average annual rate of +9.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 9.7%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in the near future.