HS Code:
The 'Of vegetable fibers, except cotton' category (HS Code 5308) includes products made from vegetable fibers other than cotton, such as flax, jute, hemp, sisal, and other similar materials. These fibers are primarily used in the production of yarns, woven fabrics, and other textile products. This category is significant in industries focused on sustainable and eco-friendly materials due to the biodegradable nature of these fibers. Global trade in this category is influenced by agricultural production capacities, environmental policies, and demand for natural and sustainable textiles.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Africa partnerships)
Growing demand for sustainable textiles
Increased interest in vegetable fiber products like jute and hemp due to eco-friendly consumer preferences, driving up trade volumes by 10% annually in key markets.
2021-2022
Technological advancements in processing
Improved processing techniques for vegetable fibers have reduced production costs by 8%, making products more competitive against synthetic alternatives.
2020-2022
Shift in supply chains due to geopolitical tensions
Diversification of sourcing from traditional leaders like Bangladesh to emerging producers in Africa to mitigate risks, affecting trade patterns.
2022
The European Union's Green Deal has introduced stricter sustainability criteria for textile imports, benefiting vegetable fiber products over synthetic alternatives.
March 2023
Expected to increase demand for vegetable fiber products in the EU by 15% over the next 5 years.
Bangladesh announced a $200 million investment in modernizing jute production facilities to meet rising global demand.
January 2023
Likely to solidify Bangladesh's position as the leading exporter, potentially increasing its market share by 5%.
Recent adjustments in the US-China trade agreement have reduced tariffs on certain vegetable fiber products, boosting Chinese exports to the US.
October 2022
Projected to increase China's trade volume in this category by USD 30 million in 2023.