Vietnam’s cotton yarn output triples in four years
Due to the increase in cotton spinning exports to mainland China, Vietnam’s cotton spinning has tripled in the past four years, with total textile mill consumption nationwide estimated to reach 5.1 million bales in 2015/2016.
According to the USDA cotton report in January this year (2016), Vietnam accounted for half of the total growth in global cotton demand during 2015/2016. Net yarn exports grew at an annual growth rate of more than 40% from 2011/2012 to 2015/2016.
Mainland China is still Vietnam’s largest yarn export market, and its market share has continued to expand in the past few years, currently accounting for 80-90% of total exports. The report pointed out that this growth is related to mainland China’s substantial spinning investment in Vietnam and the relocation of wholesalers. The main driver of this trend is mainland China’s domestic cotton policy, which has raised domestic cotton prices to the point where many spinning mills cannot make profits.
The report shows that Vietnam’s domestic consumption of cotton for yarn has grown astonishingly, with the growth more than doubling since 2011/2012. As a result, more and more yarn is exported to mainland China, and Vietnam’s role in the textile value chain has also increased.
As for 2015/2016, the United States Department of Agriculture (USDA) has lowered its global production forecast, mostly due to changes in Pakistan, India and mainland China; it has only slightly lowered its consumption forecast. Trade volume is raised to about 700,000 bales, U.S. production and use are both slightly lowered, but ending stocks are raised.
Regarding major exporting countries, import demand from Pakistan is expected to be higher, so India’s trade volume has been increased by 500,000 bales to 5.8 million; while Australia has been increased by 150,000 bales due to high shipments at the end of the season. to 3.75 million. Due to strong market demand for West African cotton, the West African country Mali was also raised by 100,000 bales to 1.2 million, while Brazil was raised by 100,000 bales to 4.3 million due to recent sales.
At the same time, Turkmenistan’s trade volume was reduced by 100,000 bales to 1 million due to a smaller crop harvest; Pakistan’s import volume increased by 700,000 bales to 2.7 million due to a smaller crop harvest and strong purchase demand. Vietnam’s cotton yarn output triples in four years
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