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Vietnam's cotton imports rise 35% in Jan-Sept'13
17
Oct '13
The imports of cotton by Vietnam in the first nine months of current year have increased by 35 percent year-on-year to 430,000 tons, valued at US$ 864 million, Viet Nam News reported.
 
Vietnam Cotton and Spinning Association (VCOSA) attributed the rise in cotton imports to the increasing demand for cotton by domestic textile and garment companies.
 
VCOSA expects the country’s cotton imports to be in the range of 580,000 to 600,000 tons this year, compared to 420,000 tons of cotton imported last year.
 
From mere 150,000 tons of cotton imports in 2005, Vietnam’s cotton imports have grown rapidly in recent years and the country has become one of the world’s top five cotton importing nations.
 
The US accounts for over 40 percent of all cotton imported by Vietnam.
 
India and Australia are other major suppliers of cotton to Vietnam.
 
Vietnam also imports some quantity of cotton from Brazil, Ivory Coast, Pakistan, China and Indonesia.
 
The cotton production in Vietnam meets only 1 percent of its domestic demand and hence the country depends on imports to a large extent for its textile industry.
 

Fibre2fashion News Desk - India

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