Mexico: Cotton Lint Market 2024

Cotton Lint Market Size in Mexico

The Mexican cotton lint market dropped to $X in 2022, which is down by -8.5% against the previous year. In general, consumption, however, showed a mild descent. Cotton lint consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Cotton Lint Production in Mexico

In value terms, cotton lint production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a slight reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 135% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The average yield of cotton lint in Mexico expanded remarkably to X tons per ha in 2022, picking up by 11% against the previous year. Overall, the yield, however, saw a relatively flat trend pattern. The cotton lint yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cotton lint production in Mexico shrank modestly to X ha, which is down by -4.6% against 2021 figures. Overall, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 103% against the previous year. Over the period under review, the harvested area dedicated to cotton lint production attained the maximum at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Cotton Lint Exports

Exports from Mexico

In 2022, shipments abroad of cotton lint decreased by -32.6% to X tons, falling for the second year in a row after three years of growth. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 100%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cotton lint exports fell to $X in 2022. Overall, exports recorded a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 116% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for cotton lint exports from Mexico, with a 62% share of total exports. Moreover, cotton lint exports to Turkey exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey stood at -49.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+6.8% per year) and Thailand (+16.3% per year).

In value terms, Turkey ($X) remains the key foreign market for cotton lint exports from Mexico, comprising 60% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total exports. It was followed by Thailand, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey totaled -40.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+8.1% per year) and Thailand (+21.6% per year).

Export Prices by Country

In 2022, the average cotton lint export price amounted to $X per ton, rising by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Pakistan ($X per ton) and Indonesia ($X per ton), while the average price for exports to Thailand ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Lint Imports

Imports into Mexico

In 2022, the amount of cotton lint imported into Mexico declined to X tons, shrinking by -14.7% against the previous year. Over the period under review, imports continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 when imports increased by 8.4%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, cotton lint imports surged to $X in 2022. In general, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) was the main cotton lint supplier to Mexico, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -6.6%.

In value terms, the United States ($X) constituted the largest supplier of cotton lint to Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -3.8%.

Import Prices by Country

In 2022, the average cotton lint import price amounted to $X per ton, jumping by 38% against the previous year. Over the period under review, the import price recorded notable growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, 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 +3.0% per year.

Source: IndexBox Platform

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