Sharp decline in Vietnam's cotton imports from Brazil in H1 2023

30 Sep '23

2 min read

Pic: Shutterstock.com

Insights

Vietnam's cotton imports from Brazil for H1 2023 amounted to $165.548 million for 85.013 million kg, marking a drastic decline compared to 2022.
The value of cotton trade between the two nations decreased by 48.73 per cent, the volume by 43 per cent, and the average price by 8.17 per cent.
This suggests a reduced demand in Vietnam's textile industry.

Vietnam imported cotton (HS code 5201) worth $165.548 million from Brazil in the first half of 2023, amounting to 85.013 million kg at an average price of $1.91 per kg. A comparative study of trade data reveals that both the value and volume of cotton imports from Brazil to Vietnam have halved compared to the same period in 2022. This decline in imports of the natural fibre points to reduced demand in the textile industry.

During the same period in 2022, Vietnam had imported 151.901 million kg of cotton at an average price of $2.08 per kg from Brazil, totalling $316.210 million in trade value, according to Fibre2Fashion’s market insight tool TexPro.

In the period under review, the value of cotton trade between the 2 countries decreased by 48.73 per cent, volume declined by 43 per cent, while the average price decreased by 8.17 per cent.

During 2022, Vietnam imported 269.463 million kg of cotton valued at $546.795 million from Brazil, with an average price of $2.03 per kg. In earlier years, the country had imported 339.613 million kg of cotton with a value of $570.426 million in 2021, 339.240 million kg valued at $518.792 million in 2020, and 217.165 million kg valued at $570.426 million in 2019. The average prices were noted at $1.68 per kg in 2021, $1.53 per kg in 2020 and $1.64 per kg in 2019, as per TexPro.

Fibre2Fashion News Desk (KUL)

More Textiles News - Vietnam...

This according to Fibre2Fashion's Market Intelligence Tool - TexPro