India: Hemp Tow Market 2024

Hemp Tow Market Size in India

The Indian hemp tow market rose markedly to $X in 2022, growing by 12% against the previous year. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Hemp Tow Production in India

In value terms, hemp tow production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 72% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

The average yield of hemp tow in India totaled less than X kg per ha in 2022, therefore, remained relatively stable against the previous year's figure. In general, the yield recorded 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, the hemp tow harvested area in India amounted to less than X ha, almost unchanged from the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Hemp Tow Exports

Exports from India

In 2022, exports of hemp tow from India skyrocketed to X tons, increasing by 502% against 2021. Overall, exports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when exports increased by 857%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, hemp tow exports surged to $X in 2022. In general, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 251% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for hemp tow exports from India, accounting for a 86% share of total exports. Moreover, hemp tow exports to Qatar exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold. The third position in this ranking was held by Jordan (X kg), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.3% per year) and Jordan (0.0% per year).

In value terms, Qatar ($X) emerged as the key foreign market for hemp tow exports from India, comprising 56% of total exports. The second position in the ranking was taken by the United States ($X), with a 25% share of total exports. It was followed by Indonesia, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.2% per year) and Indonesia (+15.1% per year).

Export Prices by Country

The average hemp tow export price stood at $X per ton in 2022, with a decrease of -71.5% against the previous year. In general, the export price recorded a slight decrease. The pace of growth appeared the most rapid in 2015 when the average export price increased by 650% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Jordan ($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 Canada (+73.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hemp Tow Imports

Imports into India

For the fourth year in a row, India recorded growth in purchases abroad of hemp tow, which increased by 150% to X tons in 2022. Overall, imports saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 1,350% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, hemp tow imports declined remarkably to $X in 2022. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 483%. Imports peaked at $X in 2021, and then contracted significantly in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest hemp tow supplier to India, accounting for a 59% share of total imports. Moreover, hemp tow imports from France exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France amounted to +95.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (0.0% per year) and Belgium (+331.0% per year).

In value terms, the largest hemp tow suppliers to India were France ($X), Belgium ($X) and China ($X), together accounting for 77% of total imports.

In terms of the main suppliers, Belgium, with a CAGR of +332.1%, saw 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 hemp tow import price stood at $X per ton in 2022, waning by -68.1% against the previous year. Over the period under review, the import price recorded a deep setback. The pace of growth appeared the most rapid in 2018 an increase of 207%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Lithuania ($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 United States (+104.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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