China: Hemp Tow Market 2024

Hemp Tow Market Size in China

The Chinese hemp tow market fell slightly to $X in 2022, shrinking by -1.9% against the previous year. In general, consumption enjoyed resilient growth. Hemp tow consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hemp Tow Production in China

In value terms, hemp tow production declined dramatically to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 551%. Hemp tow production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

In 2022, the average yield of hemp tow in China reduced slightly to X tons per ha, with a decrease of -3.3% against the year before. In general, the yield indicated a remarkable increase from 2012 to 2022: its figure increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hemp tow yield increased by +126.9% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the yield increased by 42%. The hemp tow yield peaked at X tons per ha in 2021, and then reduced modestly 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, the total area harvested in terms of hemp tow production in China amounted to X ha, increasing by 6.5% compared with the year before. Over the period under review, the harvested area continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 134%. Over the period under review, the harvested area dedicated to hemp tow production reached the peak figure at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Hemp Tow Exports

Exports from China

In 2022, after three years of growth, there was significant decline in overseas shipments of hemp tow, when their volume decreased by -42.6% to X tons. In general, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 548% against the previous year. The exports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, hemp tow exports reduced sharply to $X in 2022. Overall, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 227%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Pakistan (X tons) was the main destination for hemp tow exports from China, with a 53% share of total exports. Moreover, hemp tow exports to Pakistan exceeded the volume sent to the second major destination, Japan (X tons), fourfold. Tunisia (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Pakistan amounted to +64.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.9% per year) and Tunisia (0.0% per year).

In value terms, Pakistan ($X) remains the key foreign market for hemp tow exports from China, comprising 39% of total exports. The second position in the ranking was held by Tunisia ($X), with a 19% share of total exports. It was followed by Japan, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Pakistan stood at +152.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (0.0% per year) and Japan (-0.1% per year).

Export Prices by Country

In 2022, the average hemp tow export price amounted to $X per ton, growing by 22% against the previous year. Overall, the export price continues to indicate a mild increase. The pace of growth appeared the most rapid in 2018 an increase of 41% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 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 South Korea ($X per ton), while the average price for exports to Pakistan ($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 the United Arab Emirates (+293.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hemp Tow Imports

Imports into China

Hemp tow imports into China soared to X tons in 2022, jumping by 58% compared with 2021. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 2,316%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, hemp tow imports soared to $X in 2022. In general, imports showed significant growth. The pace of growth was the most pronounced in 2019 with an increase of 611% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X tons) constituted the largest hemp tow supplier to China, with a 89% share of total imports. Moreover, hemp tow imports from France exceeded the figures recorded by the second-largest supplier, Russia (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from France amounted to +80.8%.

In value terms, France ($X) constituted the largest supplier of hemp tow to China, comprising 84% of total imports. The second position in the ranking was held by Russia ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from France totaled +74.8%.

Import Prices by Country

The average hemp tow import price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of 239%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for France stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+45.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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