Vietnam top market for Australia's cotton export with 37% share

Australia exported cotton worth $211.902 million from January to May 2023, which was 37.12 per cent of its total shipment. In 2022, the country exported cotton valued at $1,139.398 million, comprising 38.58 per cent of the total shipment of $2,953.692 million, according to Fibre2Fashion's market insight tool TexPro. 

Vietnam imported a total of $945.038 million worth of cotton in the first five months of this year. Its imports from Australia were 22.42 per cent of the total inbound shipment. The country imported cotton worth $513.716 million from the US, constituting 54.36 per cent of the total. 

However, Australia was Vietnam's top supplier last year when its cotton imports totalled $3,012.044 million. Vietnam's import from Australia was $1,139.398 million (37.83 per cent) during 2022, while the import from the US was $1,071.771 million (35.58 million) in the same period. Trade data indicates that Vietnam imported 94.340 million kg of cotton at an average price of $2.25 per kg from January to May 2023. Last year, 435.176 million kg was imported at an average price of $2.62 per kg, as per TexPro.

Fibre2Fashion News Desk (KUL)