Wheat starch market in Hong Kong

Earlier Report Observations

The wheat starch market in Hong Kong contracted significantly in physical terms from 2018 to 2023, with volume falling from 9 405 t to 6 064 t, a reduction of over one-third. The steepest decline occurred in 2020, when market size dropped to 6 125 t, followed by a partial recovery to 7 283 t in 2021 before another decrease in 2022.

In value terms, the market followed a different trajectory after 2020, growing steadily from $3.5 million to $4.5 million by 2023. This rise in market value alongside lower physical volume indicates a notable increase in the average price of wheat starch during the latter part of the period.

Production wheat starch in Hong Kong

In kind, 2017-2020, t

Top producers of wheat starch, 2017-2020

World map of production of wheat starch, 2017-2020

Wheat starch production in Hong Kong declined for the second year in a row. In 2019, production stood at 1 648 tonnes, but by 2020 it had fallen to 1 557 tonnes, marking a modest decrease of 5.5%. Looking back over the period from 2017 to 2020, overall production increased by 18%, which translates to an average annual growth rate of 5.7%. The peak was reached in 2018, with 1 703 tonnes produced, representing the largest annual increase of 29.0% during this timeframe.

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

In value, 2017-2020, K $ US

In 2020, the value of wheat starch output in Hong Kong was 2 118 thousand US dollars, showing a slight gain of 2.3% compared to 2019. Over the four-year span from 2017 to 2020, production value increased by 37.1%, with a compound annual growth rate of 11.1%. The largest decline occurred in 2019, at 1.5%, while the most significant increase was recorded in 2018, with a jump of 36.1%.

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

Exports wheat starch from Hong Kong

Exports in kind, t

In 2020, cross-border shipments of wheat starch from Hong Kong amounted to 1 355 tonnes, corresponding to a sharp decrease of 29.6% compared to 2019. Over the period from 2017 to 2020, exports decreased by 29.4%, with a compound annual growth rate of -10.9%. The maximum volume was recorded in 2019, at 1 925 tonnes, which also saw the largest annual increase of 10.8% during this timeframe.

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

From 2017 to 2020, the main markets for Hong Kong's wheat starch exports in volume terms were Macao, accounting for 26.1% of exports, China with 19.8%, and Australia at 13.2%. Together, these three destinations made up 59.1% 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, K $ US

In 2020, Hong Kong's wheat starch exports reached 1 843 thousand US dollars, down by 23.8% compared to the previous year. Between 2017 and 2020, exports decreased by 17.9%, equating to an annualized decline of 6.4%. The peak value was recorded in 2019, at 2 419 thousand US dollars, which also experienced the largest annual increase of 12.8%.

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

Over the period from 2017 to 2020, the top buyers of wheat starch from Hong Kong in value terms were Australia, with 19.4% of exports, the United States at 18.5%, and Macao with 13.2%. Their combined share accounted for 51.2% 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 starch to Hong Kong

Imports in kind, t

Foreign wheat starch supplies to Hong Kong declined for the second consecutive year. In 2019, import volume was 8 333 tonnes, but by 2020 it had dropped to 5 924 tonnes, showing a decrease of 28.9%. Over the period from 2017 to 2020, imports decreased by 32.5%, with a compound annual growth rate of -12.3%. The maximum volume was recorded in 2018, at 9 438 tonnes, which also saw the largest annual increase of 7.6%.

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

From 2017 to 2020, the primary suppliers of wheat starch to Hong Kong in volume terms were Belgium, accounting for 22.1% of imports, Australia with 19.0%, and Asia, not elsewhere specified, at 13.8%. Together, these three sources represented 54.9% of total import flows.

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, K $ US

Hong Kong's wheat starch import value declined for the second year in a row. In 2019, imports totaled 4 710 thousand US dollars, but by 2020 they had fallen to 3 222 thousand US dollars, which is 31.6% smaller relative to the prior year. Over the period from 2017 to 2020, imports decreased by 31%, with a compound annual growth rate of -11.7%. The peak value was recorded in 2018, at 5 075 thousand US dollars, which also experienced the largest annual increase of 8.6%.

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

In the period from 2017 to 2020, the leading sources of wheat starch imports to Hong Kong in value terms were Belgium, with 20.9% of imports, Asia, not elsewhere specified, at 20.4%, and Australia with 16.7%. Together, these three accounted for 57.9% of total import flows.

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

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