Peru: Cotton Yarn Market 2022

Cotton Yarn Market Size in Peru

The Peruvian cotton yarn market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cotton Yarn Production in Peru

In value terms, cotton yarn production expanded sharply to $X in 2021 estimated in export price. In general, production, however, recorded a perceptible reduction. The growth pace was the most rapid in 2018 with an increase of 17%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Cotton Yarn Exports

Exports from Peru

In 2021, overseas shipments of cotton yarn increased by 50% to X tons for the first time since 2013, thus ending a seven-year declining trend. In general, exports, however, recorded a abrupt downturn. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, cotton yarn exports skyrocketed to $X in 2021. Overall, exports, however, faced a abrupt decrease. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons), Germany (X tons) and Chile (X tons) were the main destinations of cotton yarn exports from Peru, with a combined 68% share of total exports. These countries were followed by the United States, Ecuador, Colombia, Argentina, Italy and Venezuela, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +4.9%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), Germany ($X) and Brazil ($X) appeared to be the largest markets for cotton yarn exported from Peru worldwide, together comprising 68% of total exports.

Among the main countries of destination, the United States, with a CAGR of +7.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average cotton yarn export price amounted to $X per ton, picking up by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into Peru

Cotton yarn imports into Peru rose rapidly to X tons in 2021, increasing by 10% compared with 2020 figures. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.9% against 2012 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 17%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, cotton yarn imports skyrocketed to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest cotton yarn supplier to Peru, with a 78% share of total imports. Moreover, cotton yarn imports from India exceeded the figures recorded by the second-largest supplier, Uzbekistan (X tons), more than tenfold. The third position in this ranking was taken by Indonesia (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Uzbekistan (+32.4% per year) and Indonesia (+44.3% per year).

In value terms, India ($X) constituted the largest supplier of cotton yarn to Peru, comprising 79% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 3.1% share of total imports. It was followed by Indonesia, with a 3% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Uzbekistan (+25.5% per year) and Indonesia (+40.5% per year).

Import Prices by Country

In 2021, the average cotton yarn import price amounted to $X per ton, rising by 36% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :