Canada: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Canada

In 2022, after two years of growth, there was significant decline in the Canadian jute and jute-like fibers market, when its value decreased by -68.9% to $X. Overall, consumption recorded a slight shrinkage. Jute and jute-like fibers consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Jute And Jute-Like Fibers in Canada

In value terms, jute and jute-like fibers production declined dramatically to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 50% against the previous year. Jute and jute-like fibers production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

In 2022, the average jute and jute-like fibers yield in Canada totaled less than X kg per ha, approximately reflecting the year before. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The jute and jute-like fibers harvested area in Canada was estimated at less than X ha in 2022, standing approx. at 2021. Over the period under review, the harvested area showed a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from Canada

In 2022, exports of jute and jute-like fibers from Canada shrank sharply to X tons, waning by -58.8% compared with the previous year's figure. Overall, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 3,984% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, jute and jute-like fibers exports contracted rapidly to $X in 2022. Over the period under review, exports recorded a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 1,193%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guyana (X tons), the United States (X tons) and Mexico (X tons) were the main destinations of jute and jute-like fibers exports from Canada, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +32.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for jute and jute-like fibers exports from Canada, comprising 64% of total exports. The second position in the ranking was held by Guyana ($X), with a 22% share of total exports. It was followed by Mexico, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+9.7% per year) and Mexico (+29.6% per year).

Export Prices by Country

In 2022, the average jute and jute-like fibers export price amounted to $X per ton, dropping by -60% against the previous year. Overall, the export price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2019 an increase of 366%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to United States Minor Outlying Islands ($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 Guyana (+0.5%), while the prices for the other major destinations experienced a decline.

Imports of Jute And Jute-Like Fibers

Imports into Canada

In 2022, purchases abroad of jute and jute-like fibers decreased by -67.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2015 with an increase of 75% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports fell notably to $X in 2022. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2015 with an increase of 57% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest jute and jute-like fibers supplier to Canada, with a 53% share of total imports. Moreover, jute and jute-like fibers imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.4% per year) and Taiwan (Chinese) (+101.4% per year).

In value terms, the United States ($X) constituted the largest supplier of jute and jute-like fibers to Canada, comprising 53% of total imports. The second position in the ranking was held by India ($X), with a 23% share of total imports. It was followed by Taiwan (Chinese), with a 14% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.7% per year) and Taiwan (Chinese) (+91.5% per year).

Import Prices by Country

The average jute and jute-like fibers import price stood at $X per ton in 2022, which is down by -3.5% against the previous year. Overall, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 10%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and South Korea ($X per ton), while the price for India ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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