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Vietnam imports more cotton this year

During February, Vietnam Customs recorded imports of raw cotton to the tune of 118,446 tonnes, of which 88,370 were attributed to imports by Foreign Direct Invested (FDI) enterprises. The cumulative total for the first two months of the calendar year thus amounted to 212,335 tonnes, versus a revised 169,545 tonnes during the same period a year earlier, while imports during the international cotton season (commencing August 1) amounted to 639,227 tonnes (the unrevised sum of the monthly totals), against 561,860 in 2015/16. The latter comparison represents a year-on-year gain of 9.5 percent, on the back of a gain of almost 28 percent the year before. So far this season, the share of imports taken by US cotton has amounted to 59 percent, which is substantially more than double the proportion recorded in the comparable period during either of the two preceding season.