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

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

For the third year in a row, the Mexican market for coconut, abaca, ramie and other vegetable textile fibres recorded decline in sales value, which decreased by -20.6% to $X in 2022. In general, consumption continues to indicate a noticeable slump. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres declined rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a mild decrease. The pace of growth appeared the most rapid in 2016 with an increase of 378%. Over the period under review, production of reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in Mexico shrank modestly to X kg per ha, falling by -3.2% compared with 2021. Over the period under review, the yield recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 when the yield increased by 35%. Over the period under review, the average yield of coconut, abaca, ramie and other vegetable textile fibres reached the peak level at X tons per ha in 2012; however, from 2013 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 Mexico rose modestly to X ha in 2022, growing by 3.2% compared with the previous year. Overall, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 11% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the harvested area of coconut, abaca, ramie and other vegetable textile fibres remained at a somewhat lower figure.

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

Exports from Mexico

In 2022, after two years of growth, there was significant decline in shipments abroad of coconut, abaca, ramie and other vegetable textile fibres, when their volume decreased by -62.3% to X tons. In general, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 162%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres declined notably to $X in 2022. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 106%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -12.6%.

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -10.1%.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, which is down by -12.3% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 114%. The export price peaked at $X per ton in 2017; however, from 2018 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 the United States amounted to +2.8% per year.

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

Imports into Mexico

In 2022, supplies from abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -60.5% to X tons, falling for the third year in a row after four years of growth. Over the period under review, imports saw a pronounced downturn. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. As a result, imports attained 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 dropped notably to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 41%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, Sri Lanka (X tons) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibre to Mexico, with a 76% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Sri Lanka exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sri Lanka amounted to -1.7%.

In value terms, Sri Lanka ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Mexico, comprising 76% of total imports. The second position in the ranking was held by India ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Sri Lanka was relatively modest.

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 38% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Sri Lanka amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform