Venezuela: Cotton Lint Market 2024

Cotton Lint Market Size in Venezuela

The Venezuelan cotton lint market was estimated at $X in 2022, picking up by 12% against the previous year. Over the period under review, consumption, however, saw a deep contraction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Cotton Lint Production in Venezuela

In value terms, cotton lint production rose markedly to $X in 2022 estimated in export price. Overall, production posted a moderate increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 293%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average cotton lint yield in Venezuela surged to X tons per ha, increasing by 22% against 2021 figures. Over the period under review, the yield, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when the yield increased by 69% against the previous year. Over the period under review, the average cotton lint yield attained the maximum level at X tons per ha in 2019; however, from 2020 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.

In 2022, the cotton lint harvested area in Venezuela stood at X ha, picking up by 12% against the year before. Overall, the harvested area, however, continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 149%. Over the period under review, the harvested area dedicated to cotton lint production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Cotton Lint Exports

Exports from Venezuela

In 2022, after three years of decline, there was significant growth in shipments abroad of cotton lint, when their volume increased by 61% to X kg. In general, exports, however, saw a dramatic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 272% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, cotton lint exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of 385%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Guyana (X kg) was the main destination for cotton lint exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Guyana totaled -20.4%.

In value terms, Guyana ($X) also remains the key foreign market for cotton lint exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to Guyana amounted to -14.7%.

Export Prices by Country

The average cotton lint export price stood at $X per ton in 2022, with a decrease of -4.9% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton lint export price increased by +2.3% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 77%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Guyana.

From 2012 to 2022, the rate of growth in terms of prices for Guyana amounted to +7.1% per year.

Cotton Lint Imports

Imports into Venezuela

In 2022, imports of cotton lint into Venezuela reduced to X tons, falling by -10.5% compared with the year before. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2014 when imports increased by 116% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton lint imports dropped notably to $X in 2022. In general, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 124%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest cotton lint supplier to Venezuela, with a 58% share of total imports. Moreover, cotton lint imports from the United States exceeded the figures recorded by the second-largest supplier, Paraguay (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (-8.3% per year) and Brazil (-5.5% per year).

In value terms, the United States ($X), Paraguay ($X) and Brazil ($X) were the largest cotton lint suppliers to Venezuela, together comprising 99% of total imports.

In terms of the main suppliers, Paraguay, with a CAGR of -8.3%, 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 a decline.

Import Prices by Country

The average cotton lint import price stood at $X per ton in 2022, shrinking by -12.6% against the previous year. Overall, the import price showed a perceptible reduction. The growth pace was the most rapid in 2021 an increase of 40%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+18.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :