Hong Kong potential for US exporters

Hong Kong
United States
Market & Price Trends
Published Jan 31, 2024

Tridge summary

A recent USDA report has highlighted Hong Kong as a promising market for US fruit exporters, given its dependence on fresh fruit imports and the health-conscious nature of its consumers. Despite a global decrease in fresh fruit imports in 2022 due to high costs and shipping issues, US fresh fruit exports have seen a 20% growth in the first ten months of 2023. The USDA also forecasts a 3.2% economic growth for Hong Kong in 2023, with seasonal fresh produce and specialty goods continuing to be in demand.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

A recent USDA report has identified Hong Kong as a potential opportunity for US exporters noting a match in consumer habits and US produce, as well as the country’s reliance on imports for fresh fruit products. According to the report, Hong Kong consumers are health conscious and eat fruit regularly. As world travellers, they are interested in a wide variety of fruit and are not as price sensitive as other markets, preferring fruit in season and of high-quality. The report said, “fresh fruit from the United States is uniquely positioned to make its mark in this market as it enjoys a good reputation for safety and quality.” Currently, Hong Kong’s major fruit suppliers include Chile for cherries, Thailand for durians, Peru for grapes and cranberries, and Japan for strawberries and apples. Hong Kong also has a strong re-export practice and facilitates trade with its neighbouring countries including China and Macau. The USDA said, “In 2022, Hong Kong exported US$2.6bn fruits (or 70 ...
Source: Fruitnet
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