Cotton seeds market in ASEAN

Earlier Report Observations

The cotton seeds market in ASEAN contracted significantly from 2018 to 2021, with market volume falling from 187.7 thousand tons to 111.5 thousand tons. Production declined from 184.2 thousand tons in 2018 to 113.9 thousand tons in 2020, before a modest recovery to 123.7 thousand tons in 2021.

A sharp expansion occurred in 2022, as market volume jumped to 165.4 thousand tons and production reached 163.5 thousand tons. This growth coincided with a heightened industry focus on sustainability and supply chain transparency, emphasized at Cotton Day Vietnam 2022, where global brand requirements for sustainable cotton and origin traceability were highlighted as drivers for market competitiveness.

Market volume stabilized at 163.5 thousand tons in 2023, with production at 163.0 thousand tons. During this period, cotton price volatility due to global factors and structural shifts in the textile industry, including the move toward sustainable fashion and the introduction of regulations like Extended Producer Responsibility, influenced demand. The Cotton Day Vietnam 2024 event further underscored the dynamic of ample supply amid subdued demand, shaping market conditions into 2024.

Production cotton seeds in ASEAN

In kind, 2017-2020, K t

Top producers of cotton seeds, 2017-2020

World map of production of cotton seeds, 2017-2020

ASEAN's cotton seeds production has declined for the third year in a row. In 2020, the region produced 113.9 thousand tonnes, which represents a 15.1% decrease compared to 2019. Looking at the period from 2017 to 2020, production fell by 46.8%, translating to an average annual decline of 19.0%.

Annual dynamics of production in ASEAN in kind, 2017-2020, K t

Exports cotton seeds from ASEAN

Exports in kind, t

After two years of decline, ASEAN's cotton seeds exports rebounded in 2020. That year, exports totaled 4 346 tonnes, marking a 21.7% increase year-over-year. However, over the broader period from 2017 to 2020, exports decreased by 45.1%, with a compound annual growth rate of -18.1%. The lowest point was in 2019, with 3 572 tonnes, while the sharpest drop occurred in 2018, at 41.5%.

Annual dynamics of product's exports from ASEAN in kind, 2017-2020, t

From 2017 to 2020, the main destinations for ASEAN's cotton seeds exports were China, South Korea, and India, accounting for 23.1%, 20.6%, and 18.7% of export volumes, respectively. Together, these three countries made up 62.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ASEAN in kind, 2017-2020

Exports in value, K $ US

Following a two-year reduction, ASEAN's cotton seeds exports in value terms increased in 2020. The region exported 1 556 thousand US dollars worth of cotton seeds that year, showing a sharp rise of 34.9% compared to 2019. Over the 2017-2020 period, however, exports in value fell by 76%, equivalent to an average annual decline of 37.8%. The minimum value was recorded in 2019 at 1 154 thousand US dollars, with the largest drop also occurring that year, at 63.8%.

Annual dynamics of product's exports from ASEAN in value, 2017-2020, K $ US

Between 2017 and 2020, the buyer portfolio for ASEAN's cotton seeds exports in value terms was quite broad. India, China, and South Korea contributed 24.3%, 10.3%, and 8.8% of export value, respectively, but together they accounted for only 43.4% of total exports. Many other countries held smaller, yet significant, shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ASEAN in value, 2017-2020

Imports cotton seeds to ASEAN

Imports in kind, t

The market for cotton seeds imports into ASEAN showed significant volatility during these years. Imports hit their lowest point in 2019 at 909 tonnes, with the largest decline that year at 88.8%. In 2020, imports surged to a total of {value_last_year} tonnes, representing a dramatic increase of 319.6% compared to 2019. The period saw a peak in 2017 and a trough in 2019, with a 10.8-fold difference between these years.

Annual dynamics of product's imports to ASEAN in kind, 2017-2020, t

From 2017 to 2020, the country structure of ASEAN's cotton seeds imports in kind was highly diversified. Togo, Russia, and Greece accounted for 6.5%, 5.0%, and 3.9% of import volumes, respectively, but together they made up only 15.3% of total flows. The remaining 84.7% came from a wide range of smaller markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ASEAN in kind, 2017-2020

Imports in value, K $ US

ASEAN's cotton seeds imports in value terms were marked by volatility over these years. The minimum value was recorded in 2019 at 1 362 thousand US dollars, with the largest decline that year at 75.4%. In 2020, imports reached 2 374 thousand US dollars, rising by 74.3% year-over-year. The maximum value occurred in 2018 at 5 528 thousand US dollars, resulting in a 4.1-fold variation between the peak in 2018 and the low in 2019.

Annual dynamics of product's imports to ASEAN in value, 2017-2020, K $ US

Over the 2017-2020 period, no single market dominated ASEAN's cotton seeds imports in value terms. India, China, and Russia accounted for 13.2%, 6.3%, and 3.0% of import value, respectively, but together they represented only 22.5% of total imports. Many other partners each held modest individual shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ASEAN in value, 2017-2020