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Insight | Time:Oct 13 2017 10:42AM
Vietnam's cotton import growth slows down in Sep, 2017
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Vietnam imported 117.7kt of cotton in Sep 2017, an increase of 56.09% year on year and 1.55% month on month. In the first nine months of 2017, cotton imports amounted to 1.008 million tons, up 28.23% from the corresponding period of last year. For Sep’s imports, the major supplier was the United States, with a volume of 50.2kt and a proportion of 47.30%.

1. Growth of cotton imports slows down in Sep

In Sep 2017, textiles and garments exports of Vietnam reached $2.378 billion, up 9.76% year on year, and down 11.14% month on month. In Jan-Sep, 2017, export value has totaled $19.341 billion, an increase of 8.51% from a year ago. The export value has decreased somewhat in Sep, as the slack season is coming. According to current growth rate, the textiles and garments export value in 2017 is bound to exceed $23.8 billion of 2016.

In Jan-Sep, 2017, cotton imports of Vietnam amounted to 1.008 million tons, up 28.23% year on year, and the accumulative imports by Oct will exceed 2016’s 1.034 million tons.

In Sep, cotton imports scored at 117.7kt, up 56.09% from a year ago. According to current growth rate, Vietnam may import 1.33 million tons of cotton in 2017, up 30kt compared to last month’s forecast.

2. The largest supplier remains the United States
U.S. cotton continued to be the major supplying source for spinners in Vietnam. In Sep, Vietnam imported 50kt of U.S. cotton, flat from last month, but the proportion decreased below 50%. No Pima was imported in Sep, all the upland cotton. The shipment of 2017/18 Pima is during Nov and Dec in earliest, so no Pima was arrived in Sep.

Australian cotton remained the second largest supplier, with volumes of 40kt in Sep. Brazilian cotton took the third place, with a volume of 6kt and proportion of 5.78%.

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