Portugal: Hemp Tow Market 2024

Hemp Tow Market Size in Portugal

In 2022, the Portuguese hemp tow market increased by X% to $X, rising for the third consecutive year after three years of decline. In general, consumption continues to indicate a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hemp Tow Production in Portugal

In value terms, hemp tow production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible descent. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Hemp tow production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of hemp tow in Portugal totaled less than X kg per ha in 2022, remaining stable against the previous year's figure. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of hemp tow were harvested in Portugal; stabilizing at 2021. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Hemp Tow Exports

Exports from Portugal

In 2022, the amount of hemp tow exported from Portugal expanded slightly to X kg, growing by X% against the previous year's figure. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X kg in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, hemp tow exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X kg) was the main destination for hemp tow exports from Portugal, accounting for a X% share of total exports. Moreover, hemp tow exports to the United States exceeded the volume sent to the second major destination, France (X kg), twofold. The third position in this ranking was held by Canada (X kg), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Canada (X% per year).

In value terms, the largest markets for hemp tow exported from Portugal were the United States ($X), Switzerland ($X) and France ($X), together accounting for X% of total exports.

France, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hemp tow export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Hemp Tow Imports

Imports into Portugal

In 2022, overseas purchases of hemp tow increased by X% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, hemp tow imports skyrocketed to $X in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Belgium (X tons) constituted the largest hemp tow supplier to Portugal, accounting for a X% share of total imports. Moreover, hemp tow imports from Belgium exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Spain (X% per year).

In value terms, Belgium ($X) constituted the largest supplier of hemp tow to Portugal, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

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

Import Prices by Country

In 2022, the average hemp tow import price amounted to $X per ton, declining by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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