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US surpasses India in import of cotton
11
Oct '08
Recently released statistics by MOIT, Vietnam suggest that cotton imports from US surged in August while at the same time there was a sharp decline of imports from India in the same month.

The import of cotton from US increased 51.1% in volume and 103.2% in value year-on-year to 12,000 tons valued at US $20 million in August. Total figure for the first 8 months amounted to 69,200 tons totaling to $106.8 million, accounting for 35.4% of the total cotton imports and showing a rise of 57.6% in volume and 96.8% in value year-on-year.

Due to the strong surge in cotton exports from US, it was able to surpass India which was the biggest exporter of cotton to Vietnam till July 2008.

In contrast, imports of cotton from India sharply decreased in August by 74% in volume and 75.7% in value as compared to July and 87.1% in volume and 84.5% in value as compared to same period 2007.

For the first eight months of 2008, the imports from India stood at 49,500 tons amounting to $76.3 million, year-on–year rise of 99.3% and 157.6% respectively.

In August, Vietnam imported 2,290 tons of cotton from Switzerland, valued at $3.78 million, a decrease of 37.3% in volume and 22.9% in value as compared to July, but soared 14.9% in volume and 48.8% in value year-on-year.

In the first eight months of 2008, import volume reached 8,700 tons worth $12.6 million, a fall of 24% in volume and 13.6% in value year-on-year.

From January to August this year, Vietnam imported a total of 195,600 tons of cotton valued at $301.4 million, showing a year-on-year growth of 27.1% in quantity and 58% in value.

Fibre2fashion News Desk - India

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