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

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

In 2022, the Guatemalan market for coconut, abaca, ramie and other vegetable textile fibres increased by 46% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, enjoyed a significant increase. Consumption of peaked in 2022 and is likely to continue growth in years to come.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 when the production volume increased by 51%. Production of peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Guatemala was estimated at X kg per ha in 2022, approximately mirroring the previous year. Overall, the yield, however, saw a slight decline. The most prominent rate of growth was recorded in 2020 when the yield increased by 3.8%. 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 stood at a somewhat 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 Guatemala contracted to X ha in 2022, approximately equating the previous year. The harvested area increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the harvested area increased by 11%. The harvested area of coconut, abaca, ramie and other vegetable textile fibres peaked at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

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

Exports from Guatemala

In 2022, after two years of growth, there was significant decline in overseas shipments of coconut, abaca, ramie and other vegetable textile fibres, when their volume decreased by -64.4% to X tons. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,149% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres dropped dramatically to $X in 2022. In general, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 when exports increased by 765% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Guatemala, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Guatemala.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, rising by 69% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Honduras amounted to -0.4% per year.

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

Imports into Guatemala

In 2022, purchases abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -5.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 236%. Over the period under review, imports of attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres soared to $X in 2022. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of 361% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibre to Guatemala, with a 67% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from India exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from India totaled +41.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+7.0% per year) and Mexico (+15.3% per year).

In value terms, India ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Guatemala, comprising 70% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +50.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+13.8% per year) and Mexico (+17.9% per year).

Import Prices by Country

In 2022, the average import price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, surging by 53% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for coconut, abaca, ramie and other vegetable textile fibres increased by +86.0% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Sri Lanka ($X per ton), while the price for Mexico ($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 (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform