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Insight | Time:Jul 2 2018 11:18AM
Vietnam cotton imports continue to rise in May, 2018
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In May 2018, Vietnam imported 146.3kt of cotton, an upswing of 13.8% year on year and 18.8% month on month. Import volumes of cotton continued to increase yearly. For import origins, imports of U.S. cotton remained the largest, and its proportion was largely flat compared to last year. In May, imports of cotton from Cote d'Ivoire witnessed obvious increase, while that of Brazilian cotton reduced as it was slack season for Brazilian cotton market. In the first five months of 2018, imports from Brazil totaled 85.8kt, an increase of 305%.

1. Cotton imports rise in May

Vietnam exported $2.354 billion of textile and garments in May, 22.1% above last year and 11.2% higher than last month. In the first five months of 2018, textile and garment exports totaled $10.91 billion, an increase of 15.47% year on year. Consumption in end-user market kept good growth. In 2018, cotton consumption has been constantly increasing in Vietnam and it is expected to hit a new high. Export structure is stable, and exports to U.S. continued to be the largest.

Cotton imports were 146.3kt in May, up 13.8% from last year and 18.8% from last month, and the total imports from Jan-May were 679.3kt, up 20.3% year on year. The increase of cotton imports in May was mainly attributed to the seasonal adjustment and the higher international cotton prices pushed up by Chinese cotton prices. Meanwhile, yarn exports to China also climbed up with the favorable orders.

2. Imports of Brazilian cotton reduce

Looking from the import structure, the major origins were U.S., India and Cote d'Ivoire. Imports from Cote d'Ivoire rose by 81% year on year to 7.1kt. Brazilian cotton imports kept decreasing to 5.7kt, but the volumes were still up significantly compared to last year.

In the first five months of 2018, Vietnam imported 355.3kt of U.S. cotton, slightly higher than last year. Indian cotton totaled 138.5kt, up 36.55% year on year. Brazilian cotton imports rose by 305% on the year to be 86kt and Australian cotton imports also ticked up by 48.63% to 11kt.

The unit price of imported cotton kept upward trend in general, while Indian cotton prices moved lower to 75cent/lb, and the reasons were unclear.

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