Vietnam spends $1.53 bn on importing 766,000 tonnes cotton in H1 2024

Import prices averaged $1,995.5 per tonne during that period.

Vietnam imports cotton from 11 markets. These include Brazil ($443 million in H1 2024—up by 111 per cent YoY), the United States ($400 million—down by 18 per cent YoY), Australia ($196 million—down by 23 per cent YoY) and India ($85 million—up by 116 per cent YoY).

Cotton imports from Pakistan saw the strongest rise of 3,380 per cent to 5,186 tonnes in the first five months this year, with revenues increasing from $0.2 million to $9.1 million during the period. Imports from the South Korea dropped by 72 per cent YoY to 324 tonnes during the period, a Vietnamese media outlet reported.

Cotton imported from China had the highest average price of $3,832.3 per tonne, followed by that from South Korea, with $2,179 per tonne; the United States, with $2,098 per tonne; and Australia, with $2,092 per tonne. Cotton imported from Indonesia had the lowest price of $1,360 per tonne.

Global cotton prices will be on upward trend over this year due to recovering demand and drops in output, the International Cotton Advisory Committee forecast.

ALCHEMPro News Desk (DS)