Member ID:
Stay logged in for 30 days
Forget Your Password?

login CCFGroup App

Insight | Time: Sep 11 2018 11:04AM
Vietnam's cotton imports from U.S. and Australia rise in Jul, 2018
Text size
In July 2018, Vietnam imported 163kt of cotton, up 69.8% year on year and up 11.4% month on month. Cotton imports continued to rise in July, to hit a three-year high. For import origins, U.S. took the first place still, and its proportion rose. Australia ranked the second place due to intensive arrivals, with volumes up to 38.4kt in Jul, up 106% year on year.

I. Cotton imports hit a 3-year high in Jul

Vietnam exported $2.871 billion of textiles and garments in July 2018, an increase of 16.5% year on year and 4.6% month on month. In the first seven months of 2018, textile and garment exports totaled $16.527 billion, up 15.67% from the corresponding period of last year. End-user consumption kept good growth rate. Cotton consumption is expected to keep up in 2018, and may reach a new high further. Export structure is stable, and exports to U.S. remained the largest proportion.

In Jul 2018, cotton imports approached 163kt, an upswing of 69.8% year on year and 11.4% month on month. From Jan-Jul 2018, cotton imports amounted to 988.6kt, up 27.6% year on year. The increase in Jul was mainly attributed to the higher imports of U.S. and Australian cotton. U.S. cotton shipments were delayed one to two months this year due to transport system reform.

II. Australian cotton imports rise significantly

In terms of import structure, the major imported cotton were from U.S., Australia and India in July. Imports of Australian cotton climbed up to 38.4kt, an increase of 106% year on year due to intensive arrivals. Brazilian cotton imports decreased to 2.1kt in July, but the total imports from Jan to Jul moved up largely.

In Jan-Jul, U.S. cotton imports reached 522.8kt, higher about 15.57% compared to the corresponding period of last year; Indian cotton imports totaled 180.2kt, up 39.31% year on year; Brazilian cotton imports rose by 292% year on year to 90.5kt; Australian cotton imports were 60.6kt, up 96% year on year.
Cotton imports of Vietnam and unit prices in Jul, 2018
Origins Volumes (ton) Yearly change Monthly change Unit price (cent/lb)
U.S. 86,079 85% 6% 87.8
Australia 38,371 106% 215% 78.5
India 14,570 38% -46% 89.9
Cote d'ivoire 5,774 93% 54% 91.1
Brazil 2,120 164% -19% 89.5
South Korea 326 279% -16% 60.2
Indonesia 140 39% -72% 76.2
Taiwan China 92 44% 61% 43.7
Mainland China 38 6% -61% 123.7
Argentina 0 -100% -100% 76.9
Pakistan 0 -100% -100% 72.7
Other 15,473 0% -14% 89.2

In terms of unit prices, U.S. cotton prices continued to rise. Australian cotton prices also moved up, which may be attributed to the additional 25% tariff on U.S. cotton from China, and the higher competition from China as China will allocate additional 800kt of sliding-scale duty quotas. It can be seen that the proportion of high-grade cotton has been increasing, and textile industry may face structural change.
Related Articles
ZCE cotton futures market rises
State cotton reserves sales for May 24, 2019
Cleared foreign cotton prices step lower
China cotton imports rise in Apr, 2019
On-call cotton sales slow down somewhat
Cotton market morning express (May 24, 2019)
ICE cotton futures market rebounds
US weekly cotton export for week ending May 16, 2019
ZCE cotton futures market opens higher
Planned volumes of state cotton auction on May 24, 2019
Rayon yarn market change on vortex-spun yarn operation
Development of nylon downstream sectors
Polyester and end-user market demand in 2019
2019 polyester feedstock market outlook and short-term ...
Direct-spun PSF market pattern change
MEG-polyester market operation in 2019