Slovakia: Hemp Tow Market 2024

Hemp Tow Market Size in Slovakia

In 2022, after two years of growth, there was significant decline in the Slovak hemp tow market, when its value decreased by -68.3% to $X. Overall, consumption, however, recorded significant growth. As a result, consumption attained the peak level of $X, and then declined rapidly in the following year.

Hemp Tow Production in Slovakia

In value terms, hemp tow production reduced remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 50% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of hemp tow in Slovakia dropped to X tons per ha in 2022, which is down by -12% compared with 2021 figures. Over the period under review, the yield saw a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. The hemp tow yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. 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 hemp tow production in Slovakia shrank to X ha, which is down by -8.2% against 2021. In general, the harvested area showed a abrupt slump. The growth pace was the most rapid in 2021 when the harvested area increased by 21% against the previous year. The hemp tow harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Hemp Tow Exports

Exports from Slovakia

For the third year in a row, Slovakia recorded growth in overseas shipments of hemp tow, which increased by 18,729% to X tons in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hemp tow exports soared to $X in 2022. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X kg), Slovenia (X kg) and Italy (X kg) were the main destinations of hemp tow exports from Slovakia, together comprising 97% of total exports.

From 2017 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hemp tow exported from Slovakia were Austria ($X), Slovenia ($X) and Italy ($X), together accounting for 93% of total exports.

Among the main countries of destination, Austria, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hemp tow export price amounted to $X per ton, shrinking by -65.4% against the previous year. Over the period under review, the export price recorded a abrupt slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 45%. The export price peaked at $X per ton in 2021, and then plummeted in the following year.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Croatia ($X per ton), while the average price for exports to Austria ($X per ton) and Slovenia ($X per ton) were amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hemp Tow Imports

Imports into Slovakia

In 2022, overseas purchases of hemp tow increased by 67% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 371%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, hemp tow imports soared to $X in 2022. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 375%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The Czech Republic (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of hemp tow imports to Slovakia, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +134.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hemp tow suppliers to Slovakia were China ($X), the Czech Republic ($X) and Germany ($X), together accounting for 92% of total imports.

In terms of the main suppliers, China, with a CAGR of +112.1%, recorded 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, increasing by 25% against the previous year. Overall, the import price, however, showed a abrupt setback. The pace of growth was the most pronounced in 2016 an increase of 73%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average 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 China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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