Vietnamese yarn companies suffer large losses
According to Vietnam’s “Youth Daily” report: The Vietnam Cotton Yarn Association (VCOSA) stated that in the first half of 2012, affected by the decline in global cotton raw material prices, a large number of Vietnamese yarn companies suffered serious losses, especially most of the companies imported 2 from the United States. -The value of cotton raw materials processed into yarn during the three-month contract period is reduced by 30%. VCOSA Secretary-General Nguyen Hong Giang pointed out that Vietnamese companies should turn to countries such as India and Pakistan to import cotton to reduce raw material transportation time and reduce the risk of importing from the United States.
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