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

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

In 2022, the Italian market for coconut, abaca, ramie and other vegetable textile fibres was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

Exports from Italy

In 2022, the amount of coconut, abaca, ramie and other vegetable textile fibres exported from Italy contracted markedly to X tons, which is down by -42.4% against the previous year. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 409% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2021, and then dropped remarkably in the following year.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres declined notably to $X in 2022. In general, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 389%. The exports peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Italy, with a 79% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to the United States exceeded the volume sent to the second major destination, France (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +82.7%.

In value terms, the United States ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Italy, comprising 55% of total exports. The second position in the ranking was taken by France ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +41.9%.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 136% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+13.2%), while the prices for the other major destinations experienced a decline.

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

Imports into Italy

In 2022, purchases abroad of coconut, abaca, ramie and other vegetable textile fibres increased by 27% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 62%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres surged to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 65%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to Italy, accounting for a 79% 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), sevenfold. Germany (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-4.5% per year) and Germany (-3.0% per year).

In value terms, India ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Italy, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Sri Lanka, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and Sri Lanka (+0.5% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, with an increase of 5.1% against the previous year. Overall, import price indicated slight growth from 2012 to 2022: its price 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, import price for coconut, abaca, ramie and other vegetable textile fibres increased by +68.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 61%. Over the period under review, average import prices attained the maximum in 2022 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 China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform