Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam - 2022

Contents:

1. Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam (CIF) - 2022
2. Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam (FOB) - 2022
3. Imports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam
4. Exports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam

Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam (CIF) - 2022

In December 2022, the average import price for synthetic staple fibres, carded, combed or otherwise processed for spinnings amounted to $2,580 per ton, jumping by 28% against the previous month. Overall, the import price recorded a resilient increase. The most prominent rate of growth was recorded in January 2022 when the average import price increased by 55% month-to-month. Over the period under review, average import prices reached the maximum in December 2022.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Germany ($8,315 per ton), while the price for China ($1,775 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by South Korea (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam (FOB) - 2022

In December 2022, the average export price for synthetic staple fibres, carded, combed or otherwise processed for spinnings amounted to $3,396 per ton, growing by 8% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2022 when the average export price increased by 100% against the previous month. As a result, the export price attained the peak level of $5,857 per ton. From October 2022 to December 2022, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Cambodia ($5,500 per ton), while the average price for exports to Myanmar ($2,620 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+26.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam

Imports of synthetic staple fibres, carded, combed or otherwise processed for spinnings into Vietnam soared to 2.2K tons in 2022, with an increase of 50% on the previous year. Overall, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of synthetic staple fibres, carded, combed or otherwise processed for spinnings soared to $7.8M in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning to Vietnam in 2022:

1. China (1838.4 tons)
2. South Korea (138.6 tons)
3. Thailand (73.5 tons)
4. Taiwan (Chinese) (56.9 tons)

Exports of Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning in Vietnam

In 2022, approx. 777 tons of synthetic staple fibres, carded, combed or otherwise processed for spinnings were exported from Vietnam; dropping by -16.7% compared with 2021 figures. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 when exports increased by 13% against the previous year.

In value terms, exports of synthetic staple fibres, carded, combed or otherwise processed for spinnings contracted to $2.3M in 2022. Overall, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 3%.

Top Export Markets for Synthetic Staple Fibres, Carded, Combed or Otherwise Processed for Spinning from Vietnam in 2022:

1. Indonesia (291.8 tons)
2. China (121.7 tons)
3. Bangladesh (73.6 tons)
4. Peru (61.2 tons)
5. Sri Lanka (55.3 tons)
6. Myanmar (48.2 tons)
7. Cambodia (37.2 tons)
8. Bosnia and Herzegovina (18.1 tons)
9. South Korea (18.0 tons)
10. Germany (16.8 tons)
11. Tunisia (4.2 tons)
12. Malaysia (2.8 tons)

Source: IndexBox Market Intelligence Platform