Asia-Pacific: Cotton Lint Market 2024

Cotton Lint Market Size in Asia-Pacific

In 2022, the Asia-Pacific cotton lint market increased by 2.7% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a noticeable descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cotton Lint Production in Asia-Pacific

In value terms, cotton lint production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible slump. The growth pace was the most rapid in 2017 when the production volume increased by 22%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Pakistan (X tons), together accounting for 96% of total production.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of -1.5%), while production for the other leaders experienced a decline in the production figures.

The average cotton lint yield soared to X tons per ha in 2022, rising by 17% against the previous year. In general, the yield, however, recorded a noticeable reduction. The level of yield peaked at X tons per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cotton lint production in Asia-Pacific totaled X ha, standing approx. at the previous year's figure. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, the harvested area dedicated to cotton lint production reached the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Cotton Lint Exports

Exports in Asia-Pacific

In 2022, approx. X tons of cotton lint were exported in Asia-Pacific; waning by -20.3% against the previous year's figure. In general, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 when exports increased by 71%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cotton lint exports reached $X in 2022. Over the period under review, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 124%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Australia was the key exporting country with an export of around X tons, which finished at 66% of total exports. It was distantly followed by India (X tons), comprising a 25% share of total exports. The following exporters - Afghanistan (X tons) and China (X tons) - together made up 6% of total exports.

Australia experienced a relatively flat trend pattern with regard to volume of exports of cotton lint. At the same time, Afghanistan (+10.1%) and China (+6.7%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +10.1% from 2012-2022. By contrast, India (-13.9%) illustrated a downward trend over the same period. Australia (+31 p.p.) and Afghanistan (+3.3 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -29.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) emerged as the largest cotton lint supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was held by India ($X), with a 26% share of total exports. It was followed by Afghanistan, with a 3.1% share.

In Australia, cotton lint exports increased at an average annual rate of +1.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: India (-10.5% per year) and Afghanistan (+7.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by 31% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton lint export price increased by +72.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 32%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced more modest paces of growth.

Cotton Lint Imports

Imports in Asia-Pacific

In 2022, approx. X tons of cotton lint were imported in Asia-Pacific; which is down by -2.7% against 2021. In general, imports recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 19%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cotton lint imports skyrocketed to $X in 2022. Over the period under review, imports showed a slight contraction. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), Vietnam (X tons) and Bangladesh (X tons) was the major importer of cotton lint in Asia-Pacific, achieving 67% of total import. Pakistan (X tons) held the next position in the ranking, followed by Indonesia (X tons) and India (X tons). All these countries together held near 26% share of total imports. The following importers - Thailand (X tons) and South Korea (X tons) - each recorded a 4.1% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +13.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported cotton lint in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total imports. It was followed by Bangladesh, with a 14% share.

In China, cotton lint imports plunged by an average annual rate of -7.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+11.6% per year) and Bangladesh (+9.2% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by 19% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 22%. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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