Import Price of Cucumbers And Gherkins in Hong Kong Stabilizes at $771 per Ton in May 2023

Import Price of Cucumbers And Gherkins in Hong Kong Stabilizes at $771 per Ton in May 2023

In May 2023, the import price of cucumbers and gherkins in Hong Kong amounted to $771 per ton (CIF, Hong Kong), remaining stable compared to the previous month. Despite this stability, the overall trend pattern of import prices has remained relatively flat. The most rapid growth in prices occurred in January 2023, with a month-on-month increase of 7.2%. Although average import prices reached record highs at $809 per ton in May 2022, they have since remained slightly lower from June 2022 to May 2023. It is worth noting that the average price level in Hong Kong is primarily determined by prices for China, as it is the sole major supplying country. Between May 2022 and May 2023, the rate of price growth for China has been -0.2% per month. In terms of volume, cucumber and gherkin imports into Hong Kong were estimated at 3.1K tons in May 2023, indicating a growth of 6% compared to the previous month. However, the overall trend pattern for imports has remained relatively flat. The highest growth rate in terms of volume occurred in March 2023, with an increase of 8.3% month-on-month. The value of cucumber and gherkin imports in May 2023 was estimated at $2.4M, showing a slight downturn in general. The most rapid growth in value occurred in March 2023, with a month-on-month increase of 13%. China was the main supplier of cucumbers and gherkins to Hong Kong in May 2023, accounting for approximately 100% of total imports in terms of volume and value. The average monthly growth rate of volume and value from China between May 2022 and May 2023 was relatively modest.

Source: IndexBox Market Intelligence Platform

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