Colombia: Cotton Lint Market 2024

Cotton Lint Market Size in Colombia

The Colombian cotton lint market declined notably to $X in 2022, waning by -16% against the previous year. In general, consumption showed a deep contraction. Cotton lint consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cotton Lint Production in Colombia

In value terms, cotton lint production shrank markedly to $X in 2022 estimated in export price. In general, production faced a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 110% against the previous year. Cotton lint production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of cotton lint in Colombia expanded markedly to X tons per ha, growing by 12% on the year before. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by 29% against the previous year. Over the period under review, the average cotton lint yield hit record highs at X tons per ha in 2016; however, from 2017 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, approx. X ha of cotton lint were harvested in Colombia; with a decrease of -14.7% against the year before. Overall, the harvested area showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 53% against the previous year. Over the period under review, the harvested area dedicated to cotton lint production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Cotton Lint Exports

Exports from Colombia

In 2022, shipments abroad of cotton lint decreased by -48.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 470%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton lint exports dropped dramatically to $X in 2022. Overall, exports recorded a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 829% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons) was the main destination for cotton lint exports from Colombia, with a 74% share of total exports. Moreover, cotton lint exports to Guatemala exceeded the volume sent to the second major destination, Peru (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Guatemala totaled +2.9%.

In value terms, Guatemala ($X) remains the key foreign market for cotton lint exports from Colombia, comprising 89% of total exports. The second position in the ranking was held by Peru ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala totaled +9.4%.

Export Prices by Country

The average cotton lint export price stood at $X per ton in 2022, increasing by 7.1% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton lint export price increased by +87.7% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 63% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Peru stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Lint Imports

Imports into Colombia

Cotton lint imports into Colombia reduced to X tons in 2022, waning by -8.9% on the previous year. Over the period under review, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of 26% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, cotton lint imports shrank to $X in 2022. In general, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 34%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cotton lint to Colombia, accounting for a 83% share of total imports. Moreover, cotton lint imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), eightfold. The third position in this ranking was taken by Zimbabwe (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+5.8% per year) and Zimbabwe (+3.4% per year).

In value terms, the United States ($X) constituted the largest supplier of cotton lint to Colombia, comprising 90% of total imports. The second position in the ranking was held by Argentina ($X), with a 6.6% share of total imports. It was followed by Paraguay, with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+1.3% per year) and Paraguay (-16.4% per year).

Import Prices by Country

The average cotton lint import price stood at $X per ton in 2022, shrinking by -4.2% against the previous year. Over the period under review, the import price saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 an increase of 15%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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