Tremendous rise in global trade of true hemp (raw/retted)

19 Jun '20

2 min read

Pic: Shutterstock

The global trade of true hemp (raw or retted) has shown a considerable growth in 2019. Total trade grew 51.69 per cent from 2017 to 2019, according to data from TexPro. The global trade of true hemp was $17.46 million in 2017, which moved up to $26.49 million in 2019. The total trade of true hemp rose 21.95 per cent in 2019 over the previous year.

Further, the trade of true hemp is anticipated to grow to $50.03 million in 2022 with a rate of 88.90 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of true hemp was $10.39 million in 2017, which increased by 61.31 per cent to $16.77 million in 2019. Total exports jumped 27.25 per cent in 2019 over the previous year and is expected to move up to $ 34.38 million in 2022 with a rate of 104.97 per cent from 2019.

The global import value of true hemp was $7.07 million in 2017, which improved 37.46 per cent to $9.71 million in 2019. Total imports increased 13.77 per cent in 2019 over the previous year and is expected to grow to $15.66 million in 2022 with a rate of 61.17 per cent from 2019.

Switzerland ($5.20 million), Luxembourg ($3.57 million) and Netherlands ($3.37 million) were the key exporters of true hemp across the globe in 2019, together comprising 72.36 per cent of total export. These were followed by Bulgaria ($0.97 million), Spain ($0.93 million) and Romania ($0.77 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Switzerland and Luxembourg.

Czech Republic ($3.06 million), Austria ($2.73 million) and Germany ($0.79 million) were the key importers of true hemp across the globe in 2019, together comprising 67.73 per cent of total import. These were followed by Slovenia ($0.36 million), US ($0.33 million) and Luxembourg ($0.31 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main importing countries, was attained by Austria.

Fibre2Fashion News Desk (JL)

More Textiles News - Global...