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

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

The Colombian market for coconut, abaca, ramie and other vegetable textile fibres reduced to $X in 2022, waning by -6.8% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X, and then contracted in the following year.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production of growth remained at a lower figure.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in Colombia declined to X kg per ha, approximately equating 2021. Over the period under review, the yield recorded a mild decrease. The most prominent rate of growth was recorded in 2018 when the yield increased by 2.4%. The yield of coconut, abaca, ramie and other vegetable textile fibres peaked 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.

The harvested area of coconut, abaca, ramie and other vegetable textile fibres in Colombia reached X ha in 2022, stabilizing at the previous year. In general, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 3.2%. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production attained the maximum at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

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

Exports from Colombia

In 2022, shipments abroad of coconut, abaca, ramie and other vegetable textile fibres increased by 5.4% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 439%. Over the period under review, the exports of reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres rose notably to $X in 2022. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2016 with an increase of 439% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Colombia, accounting for a 94% share of total exports. It was followed by Austria (X tons), with a 2.5% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled +63.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and Canada (0.0% per year).

In value terms, Spain ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Colombia, comprising 92% of total exports. The second position in the ranking was taken by Austria ($X), with a 3.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and Canada (0.0% per year).

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, with an increase of 6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 an increase of 13%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Spain ($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 Spain (-0.9%).

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

Imports into Colombia

In 2022, approx. X tons of coconut, abaca, ramie and other vegetable textile fibres were imported into Colombia; waning by -38.2% on 2021. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 391%. As a result, imports attained the peak of X tons, and then reduced rapidly in the following year.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres reduced notably to $X in 2022. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 317% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

Sri Lanka (X tons), India (X tons) and Panama (X tons) were the main suppliers of imports of coconut, abaca, ramie and other vegetable textile fibres to Colombia, with a combined 95% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +38.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X), India ($X) and the United States ($X) constituted the largest coconut, abaca, ramie and other vegetable textile fibre suppliers to Colombia, with a combined 94% share of total imports.

Among the main suppliers, India, with a CAGR of +37.7%, recorded the highest rates of growth with regard to 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

In 2022, the average import price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform