Holiday plans of Vietnamese yarn mills for 2022 Spring Festival

With approaching 2022 Spring Festival, some Vietnamese yarn mills have gradually shut down for the holiday ahead of Lunar New Year. According to CCFGroup's survey, there were holiday situations of some representative Vietnamese yarn manufacturers and traders.

More than half of Vietnamese yarn mills under survey took holiday on Jan 28-29; in addition, as weavers started the break earlier than in previous years, most domestic traders have taken holidays this week, and many Vietnamese yarn mills said they saw limited orders. Compared with the results of last year's survey, the Vietnamese yarn mills took holiday in 2022 Spring Festival slightly later than that in 2021. However, similar to last year, over 80% of the Vietnamese yarn mills under survey restarted on Feb 6-8.

Most of the Vietnamese yarn mills under survey will take holiday of 10-11 days in 2022, followed by 8-9 days. The holiday-taking was more disperse in past years but intensive in 2022 Spring Festival. Overall duration of the holiday of Chinese cotton yarn mills was longer than that of Vietnamese yarn mills, not least because of bleak downstream market, dual control and losses of the cotton yarn mills. 

With 2022 Spring Festival coming, the operating rate of Vietnamese yarn mills may drop faster but will rebound up quickly on Feb 6. Whether it can return to the normal high level depends on the control of the pandemic in Vietnam.