Farmers' shift to more profitable crops such as corn, sweet potatoes and soybeans will result in 56 percent fall in cotton production this year in Vietnam, said the US Department of Agriculture.
As per the report, in the cotton year ending on July 31, cotton production will fall down to 2,570 tons from 5,880 tons a year earlier, since the area under cultivation decreased to 5,210 hectares from 12,500 hectares.
The report also said that the cotton output will rise to 2,960 in the next cotton year. The worldwide economic slowdown left its marks on the demand from the garment and textile industry, which will result in the fall of imports in current crop year probably by 8.1 percent to 230,000 tons from 250,150 tons in the previous year.
The Vietnam National Textile and Garment Group (Vinatex) intends to invest VND3.5 trillion to expand the cotton planning area in three Central Highland provinces.
Fibre2fashion News Desk - India