Vietnam cotton imports continue to reduce in Aug, 2019 – ChinaTexnet.com
Home >> Textile News >> Vietnam cotton imports continue to reduce in Aug, 2019

Vietnam cotton imports continue to reduce in Aug, 2019

2019-09-19 10:15:19 CCFGroup

Vietnam imported 102.9kt of cotton in Aug, 2019, a fall of 25.6% year on year and 22.8% month on month. From Jan to Aug, 2019, cotton imports totaled 1.0455 million tons, down 8.2% year on year. Based on current growth rate, imports may amount to 1.44 million tons in 2019, down 113kt from 2018.

I. Cotton imports continue to decline in Aug, 2019



In 2019, textiles and garments exports have risen year on year, but the growth rate slowed down. In Aug, export value of textiles and garments was $3.371 billion, up 6.6% year on year and 2.2% month on month. In the first eight months of 2019, export value totaled $21.772 billion, up 10.2% year on year. Based on current growth rate, the total export value may reach $33.6 billion, up $3.11 billion from 2018.


Vietnam imported 102.9kt of cotton in Aug, 2019, a fall of 25.6% year on year and 22.8% month on month. From Jan to Aug, 2019, cotton imports totaled 1.0455 million tons, down 8.2% year on year. Based on current growth rate, imports may amount to 1.44 million tons in 2019, down 113kt from 2018.

II. Proportion of US cotton imports keeps up



In terms of the import structure, the top supplier of cotton imports remained the United States, and imports from other countries have no big difference, and proportion was limited.

Cotton imports of Vietnam and unit prices in Aug, 2019
Origins Volumes (ton) Yearly change Monthly change Unit price (cent/lb)
US 77,556 23% -4% 81.2
Brazil 3,824 68% -71% 82.6
Australia 3,159 -91% -70% 85.3
Cote d'ivoire 2,865 -15% -34% 79.4
India 1,870 -86% -18% 54.1
Argentina 1,710 734% 21% 77.2
Indonesia 734 73% -28% 66.2
Pakistan 519 -4% -30% 55.2
South Korea 429 7% -22% 72.5
Mainland China 238 / / 68.4
Taiwan China 57 0% -43% 45.5
Singapore 0 / / /
Other 9,900 -44% -45% 79.1

In Aug, imports of US cotton reached 77.6kt, up 23% year on year, but down 4% month on month. Imports of Brazilian and Australian cotton reduced obviously, as the arrivals delayed somewhat this year, which may be attributed to the fast decrement of ICE cotton futures, leading to delayed shipment or defaults. From Jan to Aug 2019, imports of US cotton totaled 680.6kt, up 16.19% year on year, that of Indian cotton were 84.7kt, down 56.29%, Brazilian cotton 92.1kt, down 0.67%, Australian cotton 33.7kt, down 65.25%.

The sharp depreciation of Chinese yuan in Aug resulted into the sharp deficits for Chinese buyers as they procured Vietnamese yarn in Jul for the preparation of buoyant season. Due to high product inventory, Vietnamese plants reduced the demand for cotton. In Sep, cotton imports may continue to reduce.

Keywords: