SADC: Hemp Tow Market 2024

Hemp Tow Market Size in SADC

In 2022, after five years of growth, there was decline in the SADC hemp tow market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then fell modestly in the following year.

Hemp Tow Production in SADC

In value terms, hemp tow production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Tanzania (X tons) remains the largest hemp tow producing country in SADC, comprising approx. X% of total volume. Moreover, hemp tow production in Tanzania exceeded the figures recorded by the second-largest producer, Mauritius (X tons), threefold. Lesotho (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Tanzania amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Mauritius (X% per year) and Lesotho (X% per year).

Hemp Tow Exports

Exports in SADC

In 2022, approx. X tons of hemp tow were exported in SADC; waning by X% compared with 2021. Over the period under review, exports saw a noticeable decrease. The growth pace was the most rapid in 2016 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, hemp tow exports soared to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Mauritius represented the main exporter of hemp tow in SADC, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by Lesotho (X tons), Zimbabwe (X tons) and South Africa (X tons), together comprising a X% share of total exports.

Exports from Mauritius decreased at an average annual rate of X% from 2012 to 2022. At the same time, Zimbabwe (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2022. By contrast, Lesotho (X%) illustrated a downward trend over the same period. While the share of Lesotho (X p.p.), Zimbabwe (X p.p.) and South Africa (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mauritius (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X), Lesotho ($X) and Zimbabwe ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Zimbabwe, with a CAGR of X.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

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

Hemp Tow Imports

Imports in SADC

For the fourth year in a row, SADC recorded growth in overseas purchases of hemp tow, which increased by X% to X tons in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, hemp tow imports reduced rapidly to $X in 2022. Over the period under review, imports saw a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced notably in the following year.

Imports by Country

South Africa represented the key importer of hemp tow in SADC, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Zambia (X tons) took the second position in the ranking, distantly followed by Tanzania (X tons) and Lesotho (X tons). All these countries together took approx. X% share of total imports. Namibia (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hemp tow imports into South Africa stood at X%. At the same time, Lesotho (X%), Tanzania (X%), Zambia (X%) and Namibia (X%) displayed positive paces of growth. Moreover, Lesotho emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2022. South Africa (X p.p.), Zambia (X p.p.), Tanzania (X p.p.) and Lesotho (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hemp tow importing markets in SADC were South Africa ($X), Zambia ($X) and Namibia ($X), together comprising X% of total imports. Lesotho and Tanzania lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Tanzania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price faced a abrupt shrinkage. The growth pace was the most rapid in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Namibia ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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