EU: Cotton Lint Market 2023

Cotton Lint Market Size in the EU

The EU cotton lint market contracted to $X in 2021, waning by -5.3% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Cotton Lint Production in the EU

In value terms, cotton lint production totaled $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 18%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

The country with the largest volume of cotton lint production was Greece (X tons), comprising approx. 80% of total volume. Moreover, cotton lint production in Greece exceeded the figures recorded by the second-largest producer, Spain (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume in Greece totaled +1.6%.

The average cotton lint yield reached X tons per ha in 2021, approximately mirroring 2020. The yield figure increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the yield increased by 14% against the previous year. Over the period under review, the cotton lint yield reached the peak level at X tons per ha in 2017; however, from 2018 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cotton lint harvested area fell to X ha in 2021, approximately mirroring 2020. In general, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 6.9% against the previous year. Over the period under review, the harvested area dedicated to cotton lint production reached the maximum at X ha in 2020, and then declined slightly in the following year.

Cotton Lint Exports

Exports in the EU

In 2021, approx. X tons of cotton lint were exported in the European Union; growing by 34% compared with 2020. Total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +74.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 72% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, cotton lint exports surged to $X in 2021. Total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +121.3% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Greece (X tons) was the key exporter of cotton lint, committing 82% of total exports. It was distantly followed by Spain (X tons), creating a 16% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cotton lint exports from Greece stood at +2.4%. At the same time, Spain (+3.1%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +3.1% from 2012-2021. From 2012 to 2021, the share of Greece and Spain increased by +3.6 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Greece ($X) remains the largest cotton lint supplier in the European Union, comprising 82% of total exports. The second position in the ranking was held by Spain ($X), with a 15% share of total exports.

In Greece, cotton lint exports expanded at an average annual rate of +4.2% over the period from 2012-2021.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, picking up by 30% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Greece ($X per ton), while Spain stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+1.8%).

Cotton Lint Imports

Imports in the EU

In 2021, purchases abroad of cotton lint was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a pronounced decline. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton lint imports skyrocketed to $X in 2021. Overall, imports, however, saw a noticeable shrinkage. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons) and Portugal (X tons) represented roughly 51% of total imports in 2021. Germany (X tons) held the next position in the ranking, followed by France (X tons), Belgium (X tons) and Greece (X tons). All these countries together held near 28% share of total imports. Austria (X tons), Poland (X tons), Spain (X tons), Estonia (X tons), Bulgaria (X tons) and Latvia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Estonia (with a CAGR of +141.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton lint importing markets in the European Union were Italy ($X), Portugal ($X) and Germany ($X), with a combined 59% share of total imports. France, Austria, Greece, Belgium, Spain, Poland, Estonia, Bulgaria and Latvia lagged somewhat behind, together comprising a further 35%.

Estonia, with a CAGR of +138.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, surging by 22% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Austria ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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