Australia: Market for Cotton (Carded Or Combed) 2024

Market Size for Cotton (Carded Or Combed) in Australia

The Australian cotton (carded or combed) market contracted markedly to $X in 2022, declining by -65.2% against the previous year. In general, consumption continues to indicate a abrupt slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Cotton (Carded Or Combed) in Australia

In value terms, cotton (carded or combed) production totaled $X in 2022 estimated in export price. In general, production continues to indicate a resilient increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 76%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Cotton (Carded Or Combed)

Exports from Australia

Cotton (carded or combed) exports from Australia surged to X tons in 2022, rising by 16% compared with the previous year. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 17,063%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, cotton (carded or combed) exports rose significantly to $X in 2022. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 5,463% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

New Zealand (X tons) was the main destination for cotton (carded or combed) exports from Australia, accounting for a 93% share of total exports. Moreover, cotton (carded or combed) exports to New Zealand exceeded the volume sent to the second major destination, China (X tons), more than tenfold. Denmark (X tons) ranked third in terms of total exports with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand totaled +50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+160.3% per year) and Denmark (-5.1% per year).

In value terms, New Zealand ($X) remains the key foreign market for cotton (carded or combed) exports from Australia, comprising 91% of total exports. The second position in the ranking was held by China ($X), with a 7.3% share of total exports. It was followed by Denmark, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand amounted to +64.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+206.1% per year) and Denmark (+4.7% per year).

Export Prices by Country

In 2022, the average cotton (carded or combed) export price amounted to $X per ton, shrinking by -4.8% against the previous year. Overall, the export price, however, continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2015 an increase of 299%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+71.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cotton (Carded Or Combed)

Imports into Australia

In 2022, approx. X tons of cotton (carded or combed) were imported into Australia; which is down by -2.3% against the year before. Over the period under review, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of 153% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cotton (carded or combed) imports reached $X in 2022. In general, imports recorded a pronounced decline. The pace of growth appeared the most rapid in 2019 when imports increased by 132%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and India (X tons) were the main suppliers of cotton (carded or combed) imports to Australia, with a combined 95% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of cotton (carded or combed) to Australia, comprising 56% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.7% per year) and India (-4.8% per year).

Import Prices by Country

The average cotton (carded or combed) import price stood at $X per ton in 2022, increasing by 13% against the previous year. In general, the import price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 an increase of 115%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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