Colombia: Cotton Yarn Market 2024

Cotton Yarn Market Size in Colombia

The Colombian cotton yarn market shrank rapidly to $X in 2022, with a decrease of -23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a mild downturn. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Cotton Yarn Exports

Exports from Colombia

In 2022, the amount of cotton yarn exported from Colombia contracted dramatically to X tons, waning by -18.3% on 2021 figures. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 258%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton yarn exports declined to $X in 2022. Overall, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 102% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons) was the main destination for cotton yarn exports from Colombia, with a 67% share of total exports. Moreover, cotton yarn exports to Costa Rica exceeded the volume sent to the second major destination, Venezuela (X tons), fourfold. Ecuador (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica stood at +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-15.3% per year) and Ecuador (-8.8% per year).

In value terms, Costa Rica ($X), El Salvador ($X) and Venezuela ($X) appeared to be the largest markets for cotton yarn exported from Colombia worldwide, together comprising 95% of total exports.

El Salvador, with a CAGR of +47.4%, 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 a decline.

Export Prices by Country

In 2022, the average cotton yarn export price amounted to $X per ton, with an increase of 11% against the previous year. Overall, the export price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 45%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Venezuela ($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 El Salvador (+0.3%), while the prices for the other major destinations experienced a decline.

Cotton Yarn Imports

Imports into Colombia

In 2022, the amount of cotton yarn imported into Colombia shrank markedly to X tons, with a decrease of -17% compared with the year before. Over the period under review, imports saw a slight curtailment. The growth pace was the most rapid in 2021 when imports increased by 52% 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 yarn imports fell markedly to $X in 2022. Overall, imports showed a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 97% against the previous year. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest cotton yarn supplier to Colombia, with a 56% share of total imports. Moreover, cotton yarn imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.7% per year) and China (+27.2% per year).

In value terms, India ($X) constituted the largest supplier of cotton yarn to Colombia, comprising 63% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by China, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.5% per year) and China (+24.1% per year).

Import Prices by Country

In 2022, the average cotton yarn import price amounted to $X per ton, dropping by -9.2% against the previous year. In general, the import price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 30%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Brazil ($X per ton), while the price for China ($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 (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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