Vietnam: Hemp Tow Market 2025

Hemp Tow Market Size in Vietnam

After three years of decline, the Vietnamese hemp tow market increased by 44% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Hemp Tow Production in Vietnam

In value terms, hemp tow production amounted to $X in 2022 estimated in export price. In general, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. Hemp tow production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

In 2022, the average hemp tow yield in Vietnam was estimated at less than X kg per ha, remaining relatively unchanged against the previous year. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The hemp tow harvested area in Vietnam stood at less than X ha in 2022, almost unchanged from the previous year. In general, the harvested area recorded a relatively flat trend pattern.

Hemp Tow Exports

Exports from Vietnam

In 2021, shipments abroad of hemp tow increased by 390% to X kg, rising for the second year in a row after two years of decline. Overall, exports saw a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by 1,379%. Over the period under review, the exports reached the peak figure at X kg in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, hemp tow exports skyrocketed to $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 5,351% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X kg) was the main destination for hemp tow exports from Vietnam, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia was relatively modest.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia was relatively modest.

Export Prices by Country

In 2021, the average hemp tow export price amounted to $X per ton, with an increase of 91% against the previous year. In general, the export price enjoyed a strong increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 269%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Norway amounted to -44.3% per year.

Hemp Tow Imports

Imports into Vietnam

In 2022, overseas purchases of hemp tow were finally on the rise to reach X kg after four years of decline. Overall, imports, however, continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2016 when imports increased by 333%. Imports peaked at X kg in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, hemp tow imports soared to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 632% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X kg) and South Korea (X kg) were the main suppliers of hemp tow imports to Vietnam.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +0.4%).

In value terms, Japan ($X) and South Korea ($X) were the largest hemp tow suppliers to Vietnam.

In terms of the main suppliers, South Korea, with a CAGR of +12.8%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average hemp tow import price stood at $X per ton in 2022, shrinking by -8.3% against the previous year. In general, the import price, however, recorded prominent growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by 69% against the previous year. The import price peaked at $X per ton in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Japan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+12.4%).

Source: IndexBox Platform

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