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

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

The Malaysian market for coconut, abaca, ramie and other vegetable textile fibres rose rapidly to $X in 2022, surging by 13% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 18%. Production of peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Malaysia totaled less than X kg per ha in 2022, approximately mirroring the previous year. Over the period under review, 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, approx. less than X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in Malaysia; remaining relatively unchanged against the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern.

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

Exports from Malaysia

Exports of coconut, abaca, ramie and other vegetable textile fibres from Malaysia contracted remarkably to X tons in 2022, with a decrease of -21.2% compared with the previous year. Overall, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of 74% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres fell remarkably to $X in 2022. Over the period under review, exports saw a perceptible shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 69% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Malaysia, with a approx. 98% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -2.5%.

In value terms, China ($X) also remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Malaysia.

From 2012 to 2022, the average annual growth rate of value to China totaled -3.6%.

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, flattening at the previous year. Overall, the export price, however, showed a slight contraction. The most prominent rate of growth was recorded in 2020 an increase of 27%. The export price peaked at $X per ton in 2015; however, from 2016 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 China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.2% per year.

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

Imports into Malaysia

After two years of growth, purchases abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -2.5% to X tons in 2022. Over the period under review, imports recorded a slight decline. The pace of growth was the most pronounced in 2017 when imports increased by 135% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres totaled $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 -2.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 90% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to Malaysia, accounting for a 79% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Thailand exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), eightfold. India (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to +62.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+0.9% per year) and India (-11.3% per year).

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre suppliers to Malaysia were Thailand ($X), Sri Lanka ($X) and India ($X), with a combined 97% share of total imports.

Thailand, with a CAGR of +67.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

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 5.8% against the previous year. Overall, the import price recorded a prominent increase. The pace of growth was the most pronounced in 2018 an increase of 119%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 Sri Lanka ($X per ton), while the price for Thailand ($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 (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform