Philippines: Cotton Lint Market 2024

Cotton Lint Market Size in the Philippines

In 2022, the Philippine cotton lint market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw measured growth. Cotton lint consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cotton Lint Production in the Philippines

In value terms, cotton lint production surged to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average cotton lint yield in the Philippines soared to X tons per ha, growing by X% compared with 2021. In general, the yield saw a significant increase. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. 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 in the Philippines reduced sharply to X ha in 2022, dropping by X% on 2021. Over the period under review, the harvested area recorded a sharp descent. The cotton lint harvested area peaked at X ha in 2021, and then contracted dramatically in the following year.

Cotton Lint Exports

Exports from the Philippines

For the third consecutive year, the Philippines recorded growth in overseas shipments of cotton lint, which increased by X% to X tons in 2022. In general, exports recorded a significant increase. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, cotton lint exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Thailand (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) were the main destinations of cotton lint exports from the Philippines, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), Indonesia ($X) and Taiwan (Chinese) ($X) were the largest markets for cotton lint exported from the Philippines worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Thailand, with a CAGR of X%, 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 mixed trend patterns.

Export Prices by Country

The average cotton lint export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Cotton Lint Imports

Imports into the Philippines

In 2022, cotton lint imports into the Philippines declined modestly to X tons, falling by X% on 2021 figures. Overall, imports, however, saw a notable expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cotton lint imports soared to $X in 2022. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest cotton lint supplier to the Philippines, with a X% share of total imports. Moreover, cotton lint imports from Australia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Indonesia (X% per year).

In value terms, Australia ($X) constituted the largest supplier of cotton lint to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Australia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and the United States (X% per year).

Import Prices by Country

The average cotton lint import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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