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Insight | Time:Apr 16 2018 1:46PM
Vietnam cotton imports hit three-year high in Mar, 2018
 
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Vietnam imported 155kt of cotton in March, to hit a three-year high, up 38.7% year on year and 38.8% month on month. For import origins, U.S. remained the top supplier, but its proportion reduced apparently. India and Brazil ranked the second and third places respectively, but its volumes from the two countries rose by 161% and 515%. Imports from Brazil kept high growth this season.

1. Cotton imports hit a three-year high

In March, textile and apparel exports of Vietnam approached $2.319 billion, an increase of 10.3% year on year and 42.3% month on month and in the first quarter of 2018, the exports totaled $6.44 billion, an upswing of 14.05% year on year. Export structure has no big change. Exports to U.S. continued to see largest share, at 49% and following Japan and South Korea.

Cotton imports reached 155kt in March, up 38.7% year on year and 38.8% month on month and in Jan-Mar, imports amounted to 410kt, up 26.3% year on year. Imports have reached a three-year high level again.

2. Imports from Brazil soar this season

In terms of import structure, U.S., Indian and Brazilian cotton continued to be the major sources. From Sep 2017, monthly imports from Brazil kept higher compared to the corresponding period of previous two years. In the first quarter of 2018, Brazilian cotton imports have totaled 72.8kt, up significantly from 16kt and 43kt in 2017 and 2016. It may attribute to the improvement of cotton consumption structure as mills have higher requirement.
Cotton imports of Vietnam and unit prices in Mar, 2018
Origins Volumes (ton) Yearly change Monthly change Unit price (cent/lb)
U.S. 81,955 11% 48% 85.9
India 29,029 160% 66% 79.3
Brazil 17,845 515% -3% 85
Cote d'ivoire 2,169 -24% 260% 79.3
Australia 837 66% 6% 96.9
Indonesia 307 52% 0% 59
South Korea 294 75% 5% 57.9
Taiwan China 110 -3% - 61.4
Pakistan 109 -67% -60% 66.4
Mainland China 20 -47% -71% 84.4


3. Summary
In general, the imports in March continue to show the good development momentum of Vietnam’s textile industry and new capacity mainly goes high-end. The higher demand for better-grade cotton in Southeast Asia increases the competition on international cotton market.
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