| Vietnam imported 94.6kt of cotton in Sep, 2019, down 8.8% year on year and 8% month on month. In the first nine months of 2019, cotton imports totaled 1.14 million tons, a decrease of 8.3% year on year. According to current growth rate, cotton imports may amount to 1.44 million tons in 2019, a fall of 130kt from 2018. 1. Cotton imports continue to decrease in Sep, 2019  In 2019, textiles and garments exports have risen year on year, but the growth rate slowed down. In Sep, export value of textiles and garments was $2.845 billion, up 6.3% year on year but down 15.6% month on month. In the first nine months of 2019, export value totaled $24.613 billion, up 9.6% year on year. Based on current growth rate, the total export value may reach $33.4 billion, up $2.93 billion from 2018.  Vietnam imported 94.6kt of cotton in Sep, 2019, down 8.8% year on year and 8% month on month. In the first nine months of 2019, cotton imports totaled 1.14 million tons, a decrease of 8.3% year on year. According to current growth rate, cotton imports may amount to 1.44 million tons in 2019, a fall of 130kt from 2018. 2. Brazilian cotton imports take the second place  In terms of the import structure, US cotton was the major import origin, and Brazilian cotton imports increased in Sep, to be the second largest import origin. The purchasing volumes of Australian cotton decreased, as its cotton output cut a half, and prices were high. Besides, the de-grading appeared on global consumption this year, as well as on the feedstock usage, so demand for Australian cotton also diminished. Currently, arrivals of US cotton have reached the late period. International geopolitics changed much and US and Vietnam has trade friction, but it has de-escalated.
By Sep, import volumes of US cotton reached 740.1kt in 2019, an increase of 17.13% year on year, Indian cotton 86.8kt, down 55.91% year on year, Brazilian cotton 105.4kt, up 3.39%, Australian cotton 36.9kt, down 69.03% year on year. Arriving time of Brazilian and Australian cotton was delayed somewhat this year, mainly because of the delayed shipment or defaults of forward shipment orders affected by fast decrease of ICE cotton futures.  In Oct, global consumption is relatively flat, and continues to improve partially. Besides, US cotton output is expected to be good, while cotton output in North Xinjiang of China may reduce. Plus the progress of Sino-US trade talks, consumption may improve in Oct, and Vietnam may increase the purchasing volumes of imported cotton. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cotton imports of Vietnam keep downward in Sep, 2019
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