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Vietnam’s cotton yarn exports rose slowly in July, and India’s overall exports to China increased by 78% in June

by:Chengyi     2021-03-15
In July 2020, Vietnam's cotton imports fell by 9.1% year-on-year to 121,100 mouths, down 2.6% from the previous month. From January to July 2020, Vietnam's cotton imports fell 4.5% year-on-year to 899,000 tons. The United States is still Vietnam’s main source of imports, and 68% of Vietnam’s cotton comes from the United States. India's cotton imports and the proportion of imports have increased, reaching second place. Vietnam imported 82,000 tons of cotton from the United States and 11,000 tons from India.   The operating rate of Vietnamese spinning mills continued to rise, reaching more than 50%. In addition, the shipment date of Vietnamese cotton yarn began to rise in early July, but it was still slightly lower than the same period last year. The overall demand for the Vietnamese cotton spinning market in July was not much different from that in June. However, in terms of transaction prices, in the context of rising US cotton futures prices (increasing costs), most Vietnamese cotton factories choose to sell at lower prices. Moreover, both carded cotton yarn and open-ended cotton yarn are on sale, but mainly purchased by old customers.   China and other Southeast Asian economies have become the main export destinations of Indian goods. In June, India’s exports to China increased by 78% year-on-year, while exports to Malaysia, Vietnam and Singapore increased by 76%, 43% and 37% respectively. It can be seen from the data released on the 24th that the operating rate of the Indian cotton spinning industry has reached its peak, and due to the recent rapid rise in Indian cotton prices, CCI has suspended cotton auctions and expects the market to cool down for two days. Article keywords:  Vietnam cotton yarn exports in July
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