In July 2020, Vietnam’s cotton imports declined 9.1 per cent year-on-year to 121,100 while it declined by 2.6 per cent month-on-month. From January to July 2020, Vietnam’s cotton imports declined 4.5 per cent year-on-year to 899,900 tonne.

In July, US remained the major import origin for Vietnam with 68 per cent of its cotton coming from the US. The volume and proportion of Indian cotton import also increased in July to reach second place. While Vietnam imported 82,000 tonne of cotton from the US, it imported 11,100 tonne from India.

Operating rate of spinning mills in Vietnam continued to recover, to above 50 per cent. Besides, the shipmenst date of Vietnamese cotton yarn began to rise in early July, but was slightly lower than the corresponding period of last year. In July, the overall demand for the Vietnamese cotton textile market was not much different from that in Jun.

However, under the background of higher ICE cotton futures (higher costs), most Vietnamese mills chose to sell at lower prices. Therefore, both carded and open-end cotton yarn sales are seen, but most of them are mainly purchased by regular customers.