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

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

The Thai market for coconut, abaca, ramie and other vegetable textile fibres skyrocketed to $X in 2022, jumping by 19% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres shrank sharply to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 75%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a lower figure.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Thailand was estimated at X tons per ha in 2022, almost unchanged from the year before. Overall, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by 0.3% against the previous year. The yield of coconut, abaca, ramie and other vegetable textile fibres peaked at X tons per ha in 2015; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in Thailand; remaining constant against 2021. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 3.3%. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

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

Exports from Thailand

In 2022, overseas shipments of coconut, abaca, ramie and other vegetable textile fibres decreased by -18.6% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a slight descent. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres declined dramatically to $X in 2022. In general, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 26% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Thailand, with a 88% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to China exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+40.0% per year) and Malaysia (+18.9% per year).

In value terms, China ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Thailand, comprising 83% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+26.8% per year) and Malaysia (+17.4% per year).

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, reducing by -22.8% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 20% 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 remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-1.2%), while the prices for the other major destinations experienced a decline.

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

Imports into Thailand

In 2022, purchases abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -65.5% to X tons, falling for the third consecutive year after five years of growth. Overall, imports faced a abrupt slump. The pace of growth appeared the most rapid in 2017 when imports increased by 132% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres fell markedly to $X in 2022. In general, imports saw a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 146% against the previous year. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sri Lanka (X tons) was the main coconut, abaca, ramie and other vegetable textile fibre supplier to Thailand, with a 92% 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, the Philippines (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sri Lanka stood at +64.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-20.2% per year) and Indonesia (+154.6% per year).

In value terms, Sri Lanka ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Thailand, comprising 78% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Sri Lanka stood at +80.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-10.6% per year) and Indonesia (+94.9% per year).

Import Prices by Country

In 2022, the average import price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, with an increase of 56% against the previous year. In general, the import price enjoyed a resilient increase. The growth pace was the most rapid in 2014 when the average import price increased by 112%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+63.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform