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

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

In 2022, after three years of decline, there was significant growth in the Indian market for coconut, abaca, ramie and other vegetable textile fibres, when its value increased by 278% to $X. Overall, consumption, however, faced a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 8.8%. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in India was estimated at less than X kg per ha in 2022, approximately equating the year before. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in India; therefore, remained relatively stable against 2021. In general, the harvested area recorded a relatively flat trend pattern.

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

Exports from India

After three years of growth, overseas shipments of coconut, abaca, ramie and other vegetable textile fibres decreased by -9.3% to X tons in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when exports increased by 39%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres reduced markedly to $X in 2022. In general, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 38% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2021, and then dropped sharply in the following year.

Exports by Country

China (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from India, with a 47% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to China exceeded the volume sent to the second major destination, the United States (X tons), fivefold. South Korea (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.4% per year) and South Korea (+3.7% per year).

In value terms, the largest markets for coconut, abaca, ramie and other vegetable textile fibre exported from India were China ($X), the United States ($X) and the Netherlands ($X), with a combined 55% share of total exports. South Korea, Spain, Australia, the UK, Italy and the United Arab Emirates lagged somewhat behind, together accounting for a further 25%.

The United Arab Emirates, with a CAGR of +28.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, reducing by -21.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2021 an increase of 25%. As a result, the export price attained the peak level of $X per ton, and then shrank rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 the United States (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into India

In 2022, overseas purchases of coconut, abaca, ramie and other vegetable textile fibres decreased by -5.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 16% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres stood at $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 20% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibre to India, with a 42% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Brazil exceeded the figures recorded by the second-largest supplier, Tanzania (X tons), twofold. The third position in this ranking was held by Madagascar (X tons), with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Tanzania (+4.8% per year) and Madagascar (+1.6% per year).

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre suppliers to India were Brazil ($X), Tanzania ($X) and Madagascar ($X), with a combined 80% share of total imports.

Among the main suppliers, Brazil, with a CAGR of +8.8%, 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

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, growing by 9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2015 an increase of 23% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 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 the Philippines ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform