Castor Oil Seed Price in Hong Kong SAR - 2023

Castor Oil Seed Price in Hong Kong SAR (FOB) - 2022

The average castor oil seed export price stood at $2,573 per ton in 2022, rising by 34% against the previous year. Over the period under review, the export price, however, saw a slight setback. The pace of growth appeared the most rapid in 2014 an increase of 55%. The export price peaked at $3,001 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.5% per year.

Castor Oil Seed Price in Hong Kong SAR (CIF) - 2022

The average castor oil seed import price stood at $2,524 per ton in 2022, surging by 32% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2017 an increase of 36% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($3,449 per ton), while the price for India stood at $2,433 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.4%).

Castor Oil Seed Exports in Hong Kong SAR

In 2022, approx. 385 tons of castor oil seed were exported from Hong Kong SAR; jumping by 25% on 2021. Overall, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +28.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +111.1% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 68% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, castor oil seed exports surged to $990K in 2022. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Castor Oil Seed in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	370	546	590	990	38.8%
Others	N/A	7.3	N/A	N/A	0%
Total	370	554	590	990	38.8%

Top Export Markets for Castor Oil Seed from Hong Kong SAR in 2022:

China (384.6 tons)

Castor Oil Seed Imports in Hong Kong SAR

For the fourth consecutive year, Hong Kong SAR recorded growth in supplies from abroad of castor oil seed, which increased by 28% to 393 tons in 2022. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +17.5% 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 +62.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, castor oil seed imports skyrocketed to $991K in 2022. In general, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.