Hong Kong's June 2023 Imported Salmon Revenue Plummets to $242K

Hong Kong

Hong Kong Preserved Salmon Imports

In June 2023, Hong Kong witnessed a significant drop in preserved salmon imports, with a decrease of -79.8% compared to the previous month. This decline led to a total of 13 tons of imported preserved salmon, marking a continuation of the downward trend observed during the review period. Notably, the most significant growth rate of 203% was recorded in May 2023, when imports peaked at 65 tons followed by a sharp decline in the subsequent month.

Value-wise, preserved salmon imports into Hong Kong also experienced a significant decrease to $242K in June 2023. The overall trend indicated a deep downturn, with the most substantial growth rate of 155% documented in August 2022 compared to the previous month.

Hong Kong Preserved Salmon Imports By Country (Thousand USD)

Imports by Country

The main suppliers of preserved salmon imports to Hong Kong were China (5.7 tons), Taiwan (Chinese) (3.9 tons), and Thailand (1.2 tons). Together, these three countries accounted for a combined share of 82% of total imports.

Between June 2022 and June 2023, China demonstrated the most notable rate of growth among the major suppliers, with a cumulative annual growth rate (CAGR) of +0.9%. In terms of value, Taiwan (Chinese) ($98K), China ($64K), and the UK ($33K) were the largest preserved salmon suppliers to Hong Kong, together comprising 81% of total imports.

China also exhibited the highest growth rate in terms of import value, with a CAGR of +5.4%, while the other major suppliers experienced mixed trend patterns.

Import Prices by Country

In June 2023, the price of preserved salmon in Hong Kong stood at $18,367 per ton (CIF), marking a 3.3% increase compared to the previous month. Over the last twelve-month period, the average monthly growth rate was +1.1%. The most significant growth rate of 34% was recorded in November 2022. However, from May 2023 to June 2023, import prices remained relatively stable.

Import prices varied across countries, with the UK having the highest price per ton at $42,312, while China had one of the lowest prices at $11,181 per ton.

The most notable price growth from June 2022 to June 2023 was observed in the UK, with a rate of +4.9%, while the other major suppliers experienced more modest price increases.



Source: IndexBox Market Intelligence Platform

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