China: Cotton Lint Market 2024

Cotton Lint Market Size in China

In 2022, the Chinese cotton lint market increased by 1.1% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a pronounced curtailment. Cotton lint consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cotton Lint Production in China

In value terms, cotton lint production declined to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of cotton lint in China expanded rapidly to X tons per ha in 2022, growing by 14% against the previous year's figure. Overall, the yield indicated a slight increase from 2012 to 2022: its figure increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton lint yield decreased by -23.0% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 56%. The cotton lint yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cotton lint production in China rose to X ha, with an increase of 3.7% on the previous year. In general, the harvested area, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of 44%. As a result, the harvested area reached the peak level of X ha. From 2018 to 2022, the growth of the cotton lint harvested area remained at a lower figure.

Cotton Lint Exports

Exports from China

Cotton lint exports from China soared to X tons in 2022, picking up by 264% compared with the previous year's figure. Over the period under review, exports saw a strong increase. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cotton lint exports surged to $X in 2022. Overall, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons), Vietnam (X tons) and India (X tons) were the main destinations of cotton lint exports from China, with a combined 89% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +28.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Vietnam ($X) and India ($X) constituted the largest markets for cotton lint exported from China worldwide, together comprising 89% of total exports.

Vietnam, with a CAGR of +35.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cotton lint export price amounted to $X per ton, picking up by 34% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton lint export price increased by +104.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 52%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to South Korea ($X per ton) and India ($X per ton), while the average price for exports to Malaysia ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Lint Imports

Imports into China

In 2022, purchases abroad of cotton lint decreased by -10% to X tons, falling for the second consecutive year after four years of growth. In general, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 36%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cotton lint imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 45%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Brazil (X tons) and India (X tons) were the main suppliers of cotton lint imports to China, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +4.6%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X), Brazil ($X) and India ($X) appeared to be the largest cotton lint suppliers to China, with a combined 89% share of total imports.

Among the main suppliers, Brazil, with a CAGR of +6.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average cotton lint import price amounted to $X per ton, jumping by 42% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and India ($X per ton), while the price for Benin ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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