Member ID:
Stay logged in for 30 days
Forget Your Password?

login CCFGroup App

Insight | Time:Aug 10 2017 11:18AM
Vietnam's cotton imports likely to reach 1.33mln tons in 2017
Text size
In July 2017, cotton imports of Vietnam approached 96kt, up 8.56% year on year, but down 15.72% month on month. The top supplier was U.S., with volumes of 47kt, taking a share of 57.82%. According to current growth rate, the imports of cotton may total 1.33 million tons in 2017.

1. 2017 cotton imports likely to reach the largest in recent three years

In recent years, textile industry in Vietnam has been developed steadily and textile and garment export value has been increasing year by year. In 2014, the textile and garment export value has exceeded $20 billion and by Jul 31, the export value has amounted to $14.287 billion in 2017, up from $13.183 and $12.751 billion in the corresponding period of 2016 and 2015. Based on the growth rate, the export value of textile and garment may surpass the $23.8 billion of 2016 in 2017. The steady development of textile industry leads the prosperity of cotton textile industry.

The local weather is not suitable for the cotton planting, so the cotton users mainly purchase from overseas markets. The cotton textile industry development change can see from the cotton imports. During 2012 and 2015, Vietnam’s cotton textile industry stepped into fast development period, and then slowed down the tempo in 2015 and 2016. By Jul 31, cotton imports totaled 774.8kt in 2017, up from 626.7kt and 607.8kt compared to 2015 and 2016, indicating somewhat that the cotton textile industry also developed quickly in the first half year of 2017.

In terms of the monthly data, the cotton imports are related to the slack and buoyant season for textile industry. In the buoyant season during Mar and May, cotton import volumes are relatively large, then decrease in Jun and Jul, rebound in Aug. In 2017, cotton imports increased obviously and decreased gradually in Jun and Jul. According to current growth rate, cotton imports may reach 1.33 million tons in 2017.

2. U.S. remains the top supplier
Top five cotton suppliers of Vietnam in Jul, 2017
Origins Volume (ton) Value (USD) Unit price in Jan-Jun ($/mt)
U.S. 46,544 87,529,480 1,863
Australia 18,620 36,710,662 1,953
India 10,537 17,225,844 1,692
Cote d'Ivoire 2,987 5,376,457 1,754
Brazil 804 1,572,597 1,800

In Jul, Vietnam imported 96kt of cotton, about 47kt were U.S. cotton, taking a share of more than 50%. Imports of Australian and Indian cotton exceeded 10kt. China’s cotton is mainly used for its domestic market.

Compared with Jun, cotton imports decreased by 15.72%. But U.S. still took the largest proportion. Volumes of Indian cotton decreased, while Australian cotton took the second place. Australian cotton started to arrive the ports with the coming new international crop year. Besides, Indian cotton prices remained firm, so its cost performance reduced. 
Related Articles
International cotton market weekly (Feb 5-9, 2018)
Cotton market morning express (Feb 10, 2018)
ICE cotton futures end lower
China cotton market weekly (Feb 5-9, 2018)
USDA: February cotton supply and demand estimate
US weekly cotton export for week ending Feb 1,2018
Cotton market morning express (Feb 9, 2018)
Cotton market daily (Feb 8, 2018)
January imported cotton market report
Cotton market morning express (Feb 8, 2018)
Development of nylon 6 flat filament market
China's coal-based MEG market in 2017
Brief introduction of VSF overseas markets

浙公网安备 33010902000742号