After a little slowdown in late financial year 2015-2016, Vietnam’s cotton imports have showed an upward trend in the first few months of the current financial year (2016-17). During the August to November period, cotton imports increased by 18 per cent year on year to 1.6 million bales.
The 12-month total (Dec. 2015-Nov. 2016) for Vietnam has now reached a record high and is expected to move higher. Subsequently, the United States Department of Agriculture (USDA) has raised the predictions during the 2016-17 financial year for Vietnam’s imports to 5.0 million bales.
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The upsurge in the imports is primarily due to the fact that there is significant demand for Vietnam-produced yarn in China. Though other countries, particularly India and Pakistan, have experienced substantial decline in their yarn exports to China; Chinese customs data from August to October show that cotton yarn imports from Vietnam was up 200,000 bales.