In July 2018, Vietnam imported 163kt of cotton, up 69.8% year on year and up 11.4% month on month. Cotton imports continued to rise in July, to hit a three-year high. For import origins, U.S. took the first place still, and its proportion rose. Australia ranked the second place due to intensive arrivals, with volumes up to 38.4kt in Jul, up 106% year on year.
I. Cotton imports hit a 3-year high in Jul
II. Australian cotton imports rise significantly
In Jan-Jul, U.S. cotton imports reached 522.8kt, higher about 15.57% compared to the corresponding period of last year; Indian cotton imports totaled 180.2kt, up 39.31% year on year; Brazilian cotton imports rose by 292% year on year to 90.5kt; Australian cotton imports were 60.6kt, up 96% year on year.
In terms of unit prices, U.S. cotton prices continued to rise. Australian cotton prices also moved up, which may be attributed to the additional 25% tariff on U.S. cotton from China, and the higher competition from China as China will allocate additional 800kt of sliding-scale duty quotas. It can be seen that the proportion of high-grade cotton has been increasing, and textile industry may face structural change.
Vietnam’s cotton imports from U.S. and Australia rise in Jul, 2018
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