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

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

In 2022, after two years of growth, there was significant decline in the Vietnamese market for coconut, abaca, ramie and other vegetable textile fibres, when its value decreased by -37.8% to $X. Over the period under review, consumption recorded a abrupt downturn. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

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

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres shrank slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 112%. As a result, production reached the peak level of $X. From 2017 to 2022, production of growth remained at a lower figure.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Vietnam contracted slightly to X tons per ha in 2022, remaining stable against 2021. In general, the yield continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 when the yield increased by 26% against the previous year. 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 2014; however, from 2015 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 coconut, abaca, ramie and other vegetable textile fibres production in Vietnam declined slightly to X ha, approximately mirroring the year before. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 1.5%. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production reached the maximum at X ha in 2021, and then declined modestly in the following year.

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

Exports from Vietnam

In 2022, overseas shipments of coconut, abaca, ramie and other vegetable textile fibres were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, saw a noticeable descent. The growth pace was the most rapid in 2014 when exports increased by 33% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres rose to $X in 2022. Overall, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2014 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Vietnam, accounting for a 96% share of total exports. It was followed by Taiwan (Chinese) (X tons), with a 0.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China stood at -2.6%.

In value terms, China ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Vietnam, comprising 82% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -5.8%.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, falling by -5.6% against the previous year. Overall, the export price recorded a noticeable downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 12%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+9.5%).

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

Imports into Vietnam

After three years of growth, supplies from abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -4.3% to X tons in 2022. Over the period under review, imports, however, showed a modest expansion. The pace of growth was the most pronounced in 2015 with an increase of 1,123% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres dropped to $X in 2022. In general, imports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 1,012%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Madagascar (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to Vietnam, accounting for a 40% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Madagascar exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was held by Sri Lanka (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Madagascar totaled +34.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-5.0% per year) and Sri Lanka (+25.7% per year).

In value terms, Madagascar ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Vietnam, comprising 40% of total imports. The second position in the ranking was taken by Brazil ($X), with a 19% share of total imports. It was followed by Sri Lanka, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Madagascar totaled +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-7.9% per year) and Sri Lanka (+21.0% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, waning by -8.9% against the previous year. In general, the import price saw a pronounced setback. The most prominent rate of growth was recorded in 2014 an increase of 30%. 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.

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 Brazil ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform