Australia and Oceania: Cotton Lint Market 2024

Cotton Lint Market Size in Australia and Oceania

The cotton lint market in Australia and Oceania contracted sharply to $X in 2022, waning by -26.1% against the previous year. Over the period under review, consumption continues to indicate a abrupt descent. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cotton Lint Production in Australia and Oceania

In value terms, cotton lint production contracted remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 165% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Australia (X tons) constituted the country with the largest volume of cotton lint production, accounting for 99.9% of total volume.

In Australia, cotton lint production declined by an average annual rate of -8.5% over the period from 2012-2022.

The average cotton lint yield skyrocketed to X tons per ha in 2022, growing by 28% compared with 2021. Over the period under review, the yield, however, recorded a slight reduction. The growth pace was the most rapid in 2021 when the yield increased by 219% against the previous year. Over the period under review, the cotton lint yield hit record highs at X tons per ha in 2015; however, from 2016 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 cotton lint harvested area in Australia and Oceania totaled X ha, increasing by 2.6% compared with the previous year. Overall, the harvested area, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 85%. Over the period under review, the harvested area dedicated to cotton lint production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Cotton Lint Exports

Exports in Australia and Oceania

In 2022, approx. X tons of cotton lint were exported in Australia and Oceania; increasing by 56% against the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 321%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton lint exports surged to $X in 2022. In general, exports showed mild growth. The pace of growth appeared the most rapid in 2021 with an increase of 369% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

In 2022, Australia (X tons) was the main exporter of cotton lint in Australia and Oceania, making up 99.9% of total export.

Australia experienced a relatively flat trend pattern with regard to volume of exports of cotton lint. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest cotton lint supplier in Australia and Oceania.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to +1.1%.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, increasing by 35% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to +2.0% per year.

Cotton Lint Imports

Imports in Australia and Oceania

In 2022, supplies from abroad of cotton lint increased by 12% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2015 with an increase of 323%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cotton lint imports soared to $X in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 157% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Australia (X tons) and New Caledonia (X tons) prevails in imports structure, together comprising 94% of total imports. Papua New Guinea (X tons) and Micronesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for New Caledonia (with a CAGR of +78.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported cotton lint in Australia and Oceania, comprising 74% of total imports. The second position in the ranking was taken by New Caledonia ($X), with a 17% share of total imports. It was followed by Micronesia, with a 5.4% share.

In Australia, cotton lint imports expanded at an average annual rate of +35.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Caledonia (+56.9% per year) and Micronesia (+16.8% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, with an increase of 73% against the previous year. Overall, the import price showed tangible growth. The pace of growth was the most pronounced in 2016 an increase of 160% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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 Micronesia ($X per ton), while New Caledonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Micronesia (+11.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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