Price for Wadding; Other Articles Thereof, of Cotton in the Philippines - 2024
Contents:
- Price for Wadding; Other Articles Thereof, of Cotton in the Philippines (CIF) - 2024
- Price for Wadding; Other Articles Thereof, of Cotton in the Philippines (FOB) - 2022
- Imports of Wadding; Other Articles Thereof, of Cotton in the Philippines
- Exports of Wadding; Other Articles Thereof, of Cotton in the Philippines
Price for Wadding; Other Articles Thereof, of Cotton in the Philippines (CIF) - 2024
In February 2024, the average import price for wadding; other articles thereof, of cotta amounted to $3,596 per ton, declining by -15.4% against the previous month. Overall, the import price recorded a perceptible slump. The growth pace was the most rapid in June 2023 an increase of 22% against the previous month. As a result, import price attained the peak level of $6,199 per ton. From July 2023 to February 2024, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In February 2024, the country with the highest price was Malaysia ($7,111 per ton), while the price for China ($1,894 per ton) was amongst the lowest.
From February 2023 to February 2024, the most notable rate of growth in terms of prices was attained by Malaysia (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Wadding; Other Articles Thereof, of Cotton in the Philippines (FOB) - 2022
The average export price for wadding; other articles thereof, of cotta stood at $7,357 per ton in 2022, rising by 6.1% against the previous year. In general, the export price, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs at $9,035 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 the United States ($25,954 per ton), while the average price for exports to Japan ($5,123 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 Germany (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Wadding; Other Articles Thereof, of Cotton in the Philippines
In 2022, approx. 1.2K tons of wadding; other articles thereof, of cotta were imported into the Philippines; reducing by -22.4% against the previous year's figure. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 12%. As a result, imports reached the peak of 1.5K tons, and then reduced dramatically in the following year.
In value terms, imports of wadding; other articles thereof, of cotta soared to $7.4M in 2022. The total import value increased at an average annual rate of +4.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Wadding; Other Articles Thereof, of Cotton in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 3,511 | 2,281 | 2,381 | 3,981 | 4.3% |
| Netherlands | 888 | 1,242 | 1,067 | 1,598 | 21.6% |
| Malaysia | 488 | 352 | 556 | 666 | 10.9% |
| China | 868 | 696 | 737 | 533 | -15.0% |
| Vietnam | 3.6 | 64.4 | 143 | 303 | 338.2% |
| Indonesia | 63.6 | 388 | 185 | 159 | 35.7% |
| Japan | 288 | 997 | 439 | 76.9 | -35.6% |
| Turkey | N/A | N/A | 99.6 | 60.7 | -39.1% |
| South Korea | 75.6 | 139 | 449 | 4.4 | -61.2% |
| Others | 310 | 177 | 82.4 | 27.9 | -55.2% |
| Total | 6,495 | 6,336 | 6,141 | 7,410 | 4.5% |
Top Suppliers of Wadding; Other Articles Thereof, of Cotton to the Philippines in 2022:
- Thailand (511.3 tons)
- China (274.6 tons)
- Netherlands (131.4 tons)
- Malaysia (108.1 tons)
- Vietnam (50.0 tons)
- Indonesia (44.1 tons)
- Turkey (18.9 tons)
- Japan (6.8 tons)
- South Korea (1.2 tons)
Exports of Wadding; Other Articles Thereof, of Cotton in the Philippines
In 2022, the amount of wadding; other articles thereof, of cotta exported from the Philippines skyrocketed to 896 tons, growing by 19% on 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 99%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of wadding; other articles thereof, of cotta surged to $6.6M in 2022. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 81% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.
| Export of Wadding; Other Articles Thereof, of Cotton in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 45.0 | 213 | 2,247 | 4,279 | 356.4% |
| Japan | 1,943 | 1,603 | 1,758 | 722 | -28.1% |
| Germany | 15.5 | 49.3 | 92.3 | 214 | 139.9% |
| United States | 105 | 727 | 451 | 153 | 13.4% |
| Others | 401 | 290 | 674 | 1,224 | 45.1% |
| Total | 2,509 | 2,882 | 5,222 | 6,592 | 38.0% |
Top Export Markets for Wadding; Other Articles Thereof, of Cotton from the Philippines in 2022:
- Vietnam (695.1 tons)
- Japan (140.9 tons)
- Germany (15.9 tons)
- United States (5.9 tons)
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