Belgium: Hemp Tow Market 2024

Hemp Tow Market Size in Belgium

The Belgian hemp tow market soared to $X in 2022, increasing by 112% against the previous year. In general, consumption showed buoyant growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Hemp Tow Production in Belgium

In value terms, hemp tow production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced expansion. The growth pace was the most rapid in 2020 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average hemp tow yield in Belgium contracted to X tons per ha, dropping by -8.7% on the previous year's figure. In general, the yield, however, posted a mild increase. The growth pace was the most rapid in 2021 when the yield increased by 19%. As a result, the yield reached the peak level of X tons per ha, and then shrank in the following year. 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 hemp tow were harvested in Belgium; picking up by 11% on the year before. Over the period under review, the harvested area, however, recorded a deep slump. Over the period under review, the harvested area dedicated to hemp tow production reached the maximum at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Hemp Tow Exports

Exports from Belgium

In 2022, shipments abroad of hemp tow decreased by -64.5% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 475% against the previous year. The exports peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, hemp tow exports shrank sharply to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 469% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced notably in the following year.

Exports by Country

Spain (X tons), China (X tons) and France (X tons) were the main destinations of hemp tow exports from Belgium, together comprising 67% of total exports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +150.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hemp tow exported from Belgium were Spain ($X), Turkey ($X) and China ($X), together accounting for 54% of total exports. France, Portugal, Germany, Taiwan (Chinese), the Netherlands, the United States and Poland lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Germany, with a CAGR of +118.2%, 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.

Export Prices by Country

The average hemp tow export price stood at $X per ton in 2022, jumping by 24% against the previous year. Overall, the export price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 105%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to the Netherlands ($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 Israel (+28.5%), while the prices for the other major destinations experienced more modest paces of growth.

Hemp Tow Imports

Imports into Belgium

In 2022, overseas purchases of hemp tow increased by 11% to X tons, rising for the third consecutive year after two years of decline. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2017 with an increase of 112% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, hemp tow imports fell dramatically to $X in 2022. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 162%. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

Estonia (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of hemp tow imports to Belgium, together accounting for 92% of total imports. Spain and the UK lagged somewhat behind, together comprising a further 8.1%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +80.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hemp tow suppliers to Belgium were Spain ($X), France ($X) and Estonia ($X), with a combined 79% share of total imports.

Among the main suppliers, Spain, with a CAGR of +78.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hemp tow import price stood at $X per ton in 2022, which is down by -45.3% against the previous year. In general, the import price showed a mild decrease. The growth pace was the most rapid in 2014 an increase of 48% against the previous year. The import price peaked at $X per ton in 2021, and then contracted remarkably in the following year.

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 Spain ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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