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Import prices of cotton slump

09
Dec '08
Statistics from the Ministry of Industry and Trade (MOIT) shows that Vietnam imported around 21,300 tons of cotton worth US $35.1 million in the month of October.

The total import figure in terms of volume during these 10 months reached 24100 tons and the country expended near about $375.8 million, a surge of 32.2 and 64.5 percent respectively year–on-year.

During the period from January to October, the average import price of cotton fluctuated with in the range of $942 to $1,777 per ton, depicting a year-on-year growth of 24.4 percent.

However, in some markets, November import price of cotton decreased slightly to stand between $880 -$1,760 per ton. Vietnam imported cotton from Singapore market at the price of $1,655 per ton, down 1.1 percent compared to October.

The price of imported cotton also decline in countries like Tanzania, England, and Pakistan by 4, 1.9 and 13.2 percent respectively, to be at $1,625, $1,606 and $1,303 per ton.

It is expected that the import price of cotton in the future will stand with in the range of $930-$1,700 per ton.

Fibre2fashion News Desk - Vietnam


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