Browse Data and Analysis

Bite size local news, Post reports and activity summaries wrapped by ATO Hong Kong.

On October 16 the Hong Kong Government (HKG) announced a significant reduction in the duty on imported alcoholic beverages with an alcohol content above 30 percent by volume.

Hong Kong’s food retail sales remained stable at $12.2 billion in 2023, however retailers face growing challenges as more budget-minded residents travel to mainland China to save on food purchases, leading to a 4.7 percent decline in food retail sales in the first seven months of 2024.

On August 21, 2024, the Ministry of Commerce (MOFCOM) of the People's Republic of China (PRC) announced that it had initiated an anti-subsidy (i.e., countervailing duty or CVD) investigation on imports of certain dairy products originating from the European Union.

In 2023, Hong Kong was the tenth export market for U.S. pet food. Pet owners in Hong Kong value U.S. pet food for its high safety and quality and have confidence in U.S. origin and branding.

The Hong Kong market has developed into a dynamic wine export destination since the abolishment of wine tariffs in 2008. The slow recovery of the global economy dampened the city’s global imports of wine in 2023.

EU milk production in 2024 is forecast to fall slightly to 148.9 million metric tons (MMT), from an estimated 149.3 MMT in 2023 as a result of declining cow numbers and lower milk production profitability. With lower milk production, which will only be partially offset by lower expected fluid milk consumption, factory use consumption is also forecast to minimally decrease in 2024.

Colombia is the largest South American market for U.S. agricultural products and the seventh-largest market for U.S. food and beverage exports globally. Since the U.S. – Colombia Trade Promotion Agreement (CTPA) was implemented in 2012, U.S. agricultural exports have grown by more than 235 percent to a record $3.7 billion in 2023.

The EU adopted new rules for the labeling of organic pet food in the single market. Pet food can now be labeled with the EU organic production logo if 95 percent of its agricultural ingredients are organic.

EU milk production in 2024 is forecast to fall slightly to 149.5 million metric tons (MMT), returning to similar levels of 2022 as a result of declining cow numbers and lower milk production profitability. With stable demand from domestic and export...

Despite a small population of 7.3 million people, Hong Kong is the tenth-largest export market for U.S. consumer-ready agricultural products. Hong Kong has always been an attractive market for innovative U.S. food and beverage products as well as a gateway to the region.

EU environmental restrictions and elevated input costs are depressing milk production in 27 European Union Member States (EU27). Additionally, the increase in cow productivity can no longer compensate for the decline in the EU27 dairy cow herd.