Eastern Asia: Cotton Lint Market 2024

Cotton Lint Market Size in Eastern Asia

The East Asian cotton lint market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, showed a noticeable downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cotton Lint Production in Eastern Asia

In value terms, cotton lint production reduced to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of cotton lint production, accounting for 100% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China stood at -2.8%.

The average cotton lint yield rose sharply to X tons per ha in 2022, with an increase of 14% against the previous year. The yield indicated a mild 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 most prominent rate of growth was recorded in 2018 when the yield increased by 56%. Over the period under review, the cotton lint yield attained the peak level 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 harvested area of cotton lint in Eastern Asia rose slightly to X ha, picking up by 3.6% against 2021. Over the period under review, the harvested area, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. 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 failed to regain momentum.

Cotton Lint Exports

Exports in Eastern Asia

Cotton lint exports surged to X tons in 2022, increasing by 251% on 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton lint exports soared to $X in 2022. Overall, exports continue to indicate temperate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporter of cotton lint in Eastern Asia, with the volume of exports resulting at X tons, which was approx. 81% of total exports in 2022. Hong Kong SAR (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (7.3%).

From 2012 to 2022, average annual rates of growth with regard to cotton lint exports from China stood at +6.7%. At the same time, Taiwan (Chinese) (+25.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +25.2% from 2012-2022. By contrast, Hong Kong SAR (-15.8%) illustrated a downward trend over the same period. China (+40 p.p.) and Taiwan (Chinese) (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -46.4% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest cotton lint supplier in Eastern Asia, comprising 88% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +11.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-15.3% per year) and Taiwan (Chinese) (+20.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 30% against the previous year. Export price indicated temperate growth 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 +82.8% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 41%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Cotton Lint Imports

Imports in Eastern Asia

In 2022, overseas purchases of cotton lint decreased by -9% to X tons, falling for the second consecutive year after four years of growth. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton lint imports skyrocketed to $X in 2022. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 34%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China dominates imports structure, recording X tons, which was near 89% of total imports in 2022. It was distantly followed by South Korea (X tons), constituting a 5.6% share of total imports. The following importers - Taiwan (Chinese) (X tons) and Japan (X tons) - together made up 5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cotton lint imports into China stood at -9.3%. Japan (-3.3%), South Korea (-7.8%) and Taiwan (Chinese) (-10.1%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cotton lint in Eastern Asia, comprising 90% of total imports. The second position in the ranking was held by South Korea ($X), with a 6.2% share of total imports. It was followed by Japan, with a 2.2% share.

In China, cotton lint imports shrank by an average annual rate of -7.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-6.2% per year) and Japan (-1.5% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 41% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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