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Cotton consumption in Vietnam to reach a record 7.3 million bales: USDA

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cottonAccording to the latest data from the United States Department of Agriculture, Vietnam’s cotton consumption in 2020/21 is expected to reach a record 7.3 million bales, driven by strong increase  in cotton yarn and product exports (USDA). According to a Grain Central study, over the first 11 months of the marketing year, yarn exports from Vietnam had already surpassed the previous year’s record by more than 10%. The majority of exports have been driven by demand from China, which accounts for 63% of Vietnam’s total cotton lint consumption. China’s imports of Vietnamese cotton yarn from August to June set a new high, amounting to nearly 4 million bales of cotton lint consumption. In the first 11 months, US imports from Vietnam totaled more than $5 billion, a new high. Knitted cotton sweaters, pullovers, and other similar articles of apparel were the most common items imported from Vietnam, accounting for about 30% of the entire value of US cotton product imports from Vietnam.