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Cotton import prices continue to rise

09
May '08
During the first two months of 2008, textile industry of Vietnam imported nearly 48.26 tons of cotton of various varieties from global markets, which amounted to approximately US $ 69.68 million.

With respect to prices, a complex trend has been noticed between the major cotton supplying markets that include US, India, Taiwan and Switzerland.

In February, cotton imported from US quoted at $1,499 per ton, up by 10.7 percent over January 2008 and a hike of 23.8 percent over same period last year.

The quotation by Indian suppliers was around $1,490 per ton, a slight rise of 3 percent when compared to January and growth of 28.2 percent over the same time of 2007.

However, the price from Taiwan was approximately $1,362 per ton, down by 1.3 percent when compared to previous month, but experiencing a boost of 12.2 percent over same period of 2007.

The rate quoted from Switzerland was nearly $1,427 per ton, a fall of 2.9 percent against January 2008 and a rise of 11.8 percent over same period of last year.

Over all cotton prices have gone up exceptionally, compared to same period of 2007.

Fibre2fashion News Desk - Vietnam


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