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Cotton import prices plummet

27
Dec '08
A report from of Vietnamese General Customs Department shows that importing price of cotton in Vietnam witnessed growth in the first 11 months, however, a down trend has been observed during the first half of December of the ongoing year.

The average imported price of cotton during January to November period stood with in the range of US $960 - $1,777 per ton, up 24.2 percent year-on-year.

In the first two weeks of December, the price dropped at most of the supplying countries as a result of reduction in demand, stood at from $900 to $1,680 per ton.

Cotton imported from India saw the strongest decline at 24 percent against similar period of previous month, at $1,276 per ton.

In the same trend, the price quoted from Singapore reduced by 15.7 percent to stand at $1.340 per ton.

There is marginal drop in prices quoted by the US supplier during this period which stood at $1,638 per ton. From Burkina Faso prices stood at $1,360 per ton; Zambia at $1,600 per ton and from Tanzania at $1,617 per ton.

In these 11 months, US emerges the largest cotton supplier for Vietnam with 106,700 tons worth $168.3 million, followed by India with 50,500 tons for $77.7 million.

Fibre2fashion News Desk - Vietnam


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