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

Published: 2020-06-20

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.

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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.



Source:Fibre2Fashion News Desk (JL)