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Vietnam cotton imports in May 2019 increase by 2 per cent

Vietnam’s cotton imports in May 2019 increased by 2.8 per cent month on month.

The country’s cotton imports, from January to May 2019, had declined by 2 per cent year on year.

The major cotton supplier for Vietnam was the US. Cotton imports from the US hit a new high in the recent four years. In January to May, Vietnam’s imports of US cotton increased by 18.01 per cent from the same period of last year. Its imports of Indian cotton declined by 43.12 per cent. Cotton imports from Brazil also declined by 23.97 per cent while those from Australia increased by 54.75 per cent. Vietnam’s cotton imports from the US may remain large in July.

Vietnam’s domestic production of cotton crop meets only one per cent of domestic demand. The country needs over 5,00,000 tons of cotton to satisfy the needs of its garment and textile manufacturers. Vietnam’s apparel industry is growing rapidly. With an export grow rate of 20 per cent each year, Vietnam is expected to generate a turnover of 40 billion dollars in 2020.

 
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