Cotton Sewing Thread Price in Turkey Drops by 35%, with Average of $9,850 per Ton

Turkey Cotton Sewing Thread Export Price in December 2022

In December 2022, the cotton sewing thread price amounted to $9,850 per ton (FOB, Turkey), dropping by -35.2% against the previous month. Over the period under review, the export price, however, recorded noticeable growth. The most prominent rate of growth was recorded in June 2022 when the average export price increased by 102% m-o-m. The export price peaked at $15,200 per ton in November 2022, and then dropped dramatically in the following month.

There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Germany ($19,195 per ton), while the average price for exports to Iraq ($426 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Cotton Sewing Thread Export Prices by Type

Average prices varied somewhat for the major types of exported product. In December 2022, the product with the highest price was cotton; sewing thread, put up for retail sale ($10,356 per ton), while the average price for exports of cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale ($7,357 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for the following types: cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale (+3.8%), while the prices for the other products experienced more modest paces of growth.

Turkey Cotton Sewing Thread Exports

In December 2022, shipments abroad of cotton sewing thread decreased by -14.2% to 19 tons, falling for the third consecutive month after two months of growth. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in February 2022 when exports increased by 143% m-o-m. As a result, the exports attained the peak of 78 tons. From March 2022 to December 2022, the growth of the exports failed to regain momentum.

In value terms, cotton sewing thread exports shrank sharply to $184K (IndexBox estimates) in December 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in June 2022 when exports increased by 84% against the previous month. The exports peaked at 407 tons in December 2021; however, from January 2022 to December 2022, the exports remained at a lower figure.

Turkey Cotton Sewing Thread Exports by Type

Cotton; sewing thread, put up for retail sale (11 tons) was the largest type of cotton sewing thread exported from Turkey, with a 59% share of total exports. Moreover, cotton; sewing thread, put up for retail sale exceeded the volume of the second product type, cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale (4.6 tons), twofold.

From December 2021 to December 2022, the average monthly growth rate of the volume of export of cotton; sewing thread, put up for retail sale amounted to -6.5%. With regard to the other exported products, the following average monthly rates of growth were recorded: cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale (-7.2% per month) and cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale (-13.3% per month).

In value terms, cotton; sewing thread, put up for retail sale ($113K) remains the largest type of cotton sewing thread exported from Turkey, comprising 62% of total exports. The second position in the ranking was held by cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale ($48K), with a 26% share of total exports.

From December 2021 to December 2022, the average monthly growth rate of the export volume of cotton; sewing thread, put up for retail sale amounted to -5.4%. With regard to the other exported products, the following average monthly rates of growth were recorded: cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale (-3.6% per month) and cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale (-12.6% per month).

Turkey Cotton Sewing Thread Exports by Country

Bulgaria (3.2 tons), Poland (2.4 tons) and Italy (2.3 tons) were the main destinations of cotton sewing thread exports from Turkey, together comprising 42% of total exports. Germany, Serbia, Jordan, France, Morocco, Iraq, Romania, Bosnia and Herzegovina, Montenegro and Bahrain lagged somewhat behind, together comprising a further 39%.

From December 2021 to December 2022, the biggest increases were in Bahrain (with a CAGR of +72.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton sewing thread exported from Turkey were Poland ($32K), Germany ($23K) and Bulgaria ($19K), with a combined 40% share of total exports. Italy, Morocco, Serbia, Romania, France, Bosnia and Herzegovina, Jordan, Bahrain, Montenegro and Iraq lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, Bahrain, with a CAGR of +72.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Oversupply and Global Economic Slowdown Drive Down Cotton Sewing Thread Prices in Turkey

There are a number of factors that have contributed to the dramatic decrease in price. Firstly, there is an oversupply of cotton sewing thread across Turkey, which has greatly impacted the price. This is due to an increase in production in the country, which has led to a surplus of products. Additionally, the global economic slowdown has affected the demand for cotton sewing thread, leading to a decrease in price.

Finally, changes in regulations and tariffs have also impacted the price of cotton sewing thread in Turkey. Despite the challenges faced by the cotton sewing thread industry in Turkey, there are opportunities for growth and development. Companies can look to expand into new markets or explore innovative ways to produce cotton sewing thread that are cost-effective and sustainable. With the right strategies in place, the industry can rebound and thrive in the coming years.

Source: IndexBox Market Intelligence Platform