Price for Cotton; Yarn Waste (Including Thread Waste) in the Philippines - 2023

Contents:

1. Price for Cotton; Yarn Waste (Including Thread Waste) in the Philippines (FOB) - 2022
2. Price for Cotton; Yarn Waste (Including Thread Waste) in the Philippines (CIF) - 2022
3. Exports of Cotton; Yarn Waste (Including Thread Waste) in the Philippines
4. Imports of Cotton; Yarn Waste (Including Thread Waste) in the Philippines

Price for Cotton; Yarn Waste (Including Thread Waste) in the Philippines (FOB) - 2022

In 2022, the average export price for cotton; yarn waste (including thread waste) amounted to $1,010 per ton, shrinking by -7.5% against the previous year. In general, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 316% against the previous year. The export price peaked at $1,346 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($1,756 per ton), while the average price for exports to Thailand amounted to $801 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1.7%).

Price for Cotton; Yarn Waste (Including Thread Waste) in the Philippines (CIF) - 2022

The average import price for cotton; yarn waste (including thread waste) stood at $3,219 per ton in 2022, surging by 62% against the previous year. In general, the import price posted buoyant growth. The pace of growth appeared the most rapid in 2021 an increase of 191% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($5,733 per ton), while the price for China ($674 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+39.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cotton; Yarn Waste (Including Thread Waste) in the Philippines

Exports of cotton; yarn waste (including thread waste) from the Philippines declined sharply to 246 tons in 2022, waning by -66.1% against the previous year. In general, exports recorded a deep slump. The growth pace was the most rapid in 2021 when exports increased by 109%. As a result, the exports attained the peak of 728 tons, and then fell sharply in the following year.

In value terms, exports of cotton; yarn waste (including thread waste) contracted significantly to $249K in 2022. Over the period under review, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 69% against the previous year. As a result, the exports reached the peak of $794K, and then contracted notably in the following year.

Top Export Markets for Cotton; Yarn Waste (Including Thread Waste) from the Philippines in 2022:

1. Thailand (192.5 tons)
2. India (53.9 tons)

Imports of Cotton; Yarn Waste (Including Thread Waste) in the Philippines

In 2022, approx. 41 tons of cotton; yarn waste (including thread waste) were imported into the Philippines; increasing by 447% compared with 2021. Overall, imports recorded a significant increase. The growth pace was the most rapid in 2020 with an increase of 3,082%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of cotton; yarn waste (including thread waste) soared to $132K in 2022. In general, imports showed significant growth. The growth pace was the most rapid in 2020 when imports increased by 2,235% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Cotton; Yarn Waste (Including Thread Waste) to the Philippines in 2022:

1. Thailand (20.3 tons)
2. China (18.1 tons)
3. Vietnam (1.4 tons)
4. Japan (1.0 tons)

Source: IndexBox Market Intelligence Platform