Bangladesh: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Bangladesh

The Bangladeshi market for coconut, abaca, ramie and other vegetable textile fibres rose to $X in 2022, increasing by 3.1% against the previous year. Over the period under review, consumption, however, recorded measured growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Bangladesh

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres stood at $X in 2022 estimated in export price. Overall, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +12.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 120% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth remained at a somewhat lower figure.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in Bangladesh shrank modestly to X kg per ha, standing approx. at 2021. Over the period under review, the yield continues to indicate a slight decline. The growth pace was the most rapid in 2018 with an increase of 4.7% against the previous year. Over the period under review, the average yield of coconut, abaca, ramie and other vegetable textile fibres attained the maximum level at X kg per ha in 2013; however, from 2014 to 2022, the yield remained at a 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, approx. X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in Bangladesh; remaining constant against 2021. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the harvested area increased by 3.2%. The harvested area of coconut, abaca, ramie and other vegetable textile fibres peaked at X ha in 2017; afterwards, it flattened through to 2022.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Bangladesh

In 2022, shipments abroad of coconut, abaca, ramie and other vegetable textile fibres was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports continue to indicate a mild expansion. The pace of growth was the most pronounced in 2018 when exports increased by 1,461%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres skyrocketed to $X in 2022. In general, exports showed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 997%. Over the period under review, the exports of reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Bangladesh, accounting for a 45% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to the Philippines exceeded the volume sent to the second major destination, South Korea (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+1,386.8% per year) and the UK (-95.5% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Bangladesh, comprising 48% of total exports. The second position in the ranking was taken by South Korea ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Philippines totaled -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+442.8% per year) and the UK (-92.3% per year).

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, which is down by -28.9% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for coconut, abaca, ramie and other vegetable textile fibres increased by +23.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 120% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then reduced sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to South Korea ($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 Thailand (+262.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Bangladesh

In 2022, the amount of coconut, abaca, ramie and other vegetable textile fibres imported into Bangladesh skyrocketed to X tons, increasing by 51% compared with 2021 figures. Over the period under review, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 392%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres soared to $X in 2022. In general, imports saw buoyant growth. The growth pace was the most rapid in 2016 when imports increased by 166% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X tons), India (X tons) and the Philippines (X tons) were the main suppliers of imports of coconut, abaca, ramie and other vegetable textile fibres to Bangladesh, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +67.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Bangladesh, comprising 75% of total imports. The second position in the ranking was held by the Philippines ($X), with a 5.9% share of total imports. It was followed by India, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+42.9% per year) and India (+53.6% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, picking up by 16% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for coconut, abaca, ramie and other vegetable textile fibres decreased by -21.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 86%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform