Wheat and meslin flour and cereals market in Hong Kong

Earlier Report Observations

The physical volume of Hong Kong's wheat and meslin flour market contracted from 179.4 thousand tons in 2018 to 152.4 thousand tons in 2022, stabilizing at 152.2 thousand tons in 2023. Market value followed a different path, declining initially before rising to 105.1 million USD in 2022 and then easing to 102.2 million USD in 2023.

In 2022, a 16% spike in global wheat prices, fueled by broad agricultural commodity inflation and supply chain disruptions from the Russia-Ukraine conflict, sharply increased import costs. This price surge elevated the market's dollar value despite a concurrent drop in physical volume, a dynamic compounded by export restrictions from key producers like Kazakhstan which affected global availability.

By 2023, a peak and subsequent contraction in global wheat and meslin flour exports helped alleviate some supply pressures, contributing to the stabilization of Hong Kong's market volume. A partial correction from the previous year's price highs led to a modest decrease in the overall market value.

Production wheat and meslin flour and cereals in Hong Kong

In kind, 2017-2020, t

Top producers of wheat and meslin flour and cereals, 2017-2020

World map of production of wheat and meslin flour and cereals, 2017-2020

In 2019, Hong Kong's production of wheat and meslin flour and cereals saw a modest increase of 1.6%. However, by 2020, output had dropped significantly to 2 098 tonnes, marking a 33.9% decline compared to the previous year. Looking at the broader period from 2017 to 2020, production fell by 47.6%, which translates to an average annual decrease of 19.4%.

Annual dynamics of production in Hong Kong in kind, 2017-2020, t

In value, 2017-2020, K $ US

In 2019, the value of wheat and meslin flour and cereals production in Hong Kong rose by 10.1%. But in 2020, output value fell sharply to 1 692 thousand US dollars, down 39.7% year-on-year. Over the 2017-2020 period, production value decreased by 47.1%, with a compound annual growth rate of -19.1%.

Annual dynamics of production in Hong Kong in value, 2017-2020, K $ US

Exports wheat and meslin flour and cereals from Hong Kong

Exports in kind, K t

In 2019, Hong Kong's exports of wheat and meslin flour and cereals in volume terms increased by 5.8%. However, in 2020, exports dropped to 8.5 thousand tonnes, representing a steep 26.0% decrease compared to 2019. From 2017 to 2020, exports declined by 28.6%, equating to an annualized rate of -10.6%.

Annual dynamics of product's exports from Hong Kong in kind, 2017-2020, K t

Between 2017 and 2020, Macao, China, and the United States were the leading destinations for Hong Kong's wheat and meslin flour and cereals exports in volume terms. Macao accounted for 37.7% of exports, China for 32.3%, and the United States for 15.6%. Together, these three markets represented 85.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Hong Kong in kind, 2017-2020

Exports in value, M $ US

In 2019, Hong Kong's exports of wheat and meslin flour and cereals in value terms reached their peak at 10.1 million US dollars, reflecting a 14.8% increase. By 2020, export value had contracted to 6.8 million US dollars, down 32.5% from the previous year. Over the 2017-2020 period, exports decreased by 28%, with an annualized rate of -10.4%.

Annual dynamics of product's exports from Hong Kong in value, 2017-2020, M $ US

From 2017 to 2020, Macao, China, and the United States dominated Hong Kong's wheat and meslin flour and cereals exports in value terms. Macao held a 38.6% share, China 20.4%, and the United States 20.1%. Collectively, these three markets made up 79.1% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Hong Kong in value, 2017-2020

Imports wheat and meslin flour and cereals to Hong Kong

Imports in kind, K t

Hong Kong's imports of wheat and meslin flour and cereals in volume terms declined for the third consecutive year. In 2019, imports stood at a higher level, but by 2020, they had fallen to 170.4 thousand tonnes, a decrease of 6.3% compared to the previous year. Over the 2017-2020 period, imports dropped by 11.8%, with a compound annual growth rate of -4.1%.

Annual dynamics of product's imports to Hong Kong in kind, 2017-2020, K t

During 2017-2020, China, Japan, and Asia, not elsewhere specified, were the top suppliers of wheat and meslin flour and cereals to Hong Kong in volume terms. China contributed 40.0% of imports, Japan 21.5%, and Asia, not elsewhere specified 12.2%. Together, these sources accounted for 73.7% of total import volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Hong Kong in kind, 2017-2020

Imports in value, M $ US

Foreign supplies of wheat and meslin flour and cereals to Hong Kong declined for the third year in a row. In 2019, import value was higher, but in 2020, it decreased to 98.5 million US dollars, down 5.7% from the previous year. Over the 2017-2020 period, imports fell by 8.9%, with a compound annual growth rate of -3.1%.

Annual dynamics of product's imports to Hong Kong in value, 2017-2020, M $ US

From 2017 to 2020, China, Japan, and Asia, not elsewhere specified, were the largest contributors to Hong Kong's wheat and meslin flour and cereals imports in value terms. China accounted for 38.5%, Japan for 23.7%, and Asia, not elsewhere specified for 12.8%. In total, these three sources represented 74.9% of import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Hong Kong in value, 2017-2020