Vietnam’s cotton import demand increases

According to Vietnam’s “Economic Times” report on August 18: The Vietnam Cotton Yarn Association stated that there are currently 96 companies in Vietnam engaged in short spinning operations, with an annual supply of 720,000 tons. Among them, Vietnam consumes 250,000 tons domestically and the remaining 470,000 tons are exported. Natural cotton accounts for 51% of the raw materials for short-spun yarn production in Vietnam. In the past 10 years, Vietnam’s cotton cultivation has made no progress. In 2013, Vietnam’s cotton output was 5,000 tons, which could only meet 1.2% of the raw material demand of Vietnam’s spinning industry. Therefore, Vietnam mainly imports cotton from markets such as the United States, South Asia, and Africa.