[VCOSA] Monthly Report - Cotton & Yarn Statistics April 2024

--- For internal circulation only ---
MONTHLY REPORT
COTTON AND YARN STATISTIC
Vietnam Cotton and Spinning Association
Collected & Edited: Information and Communication Dept.
APRIL 2024

https://vcosa.vn 2
Newsletter #April 2024
Announcement
STATISTICS REPORT
GLOBAL TEXTILE RAW MATERIAL MARKET UPDATE
VCOSA is pleased to announce the introduction of new sections starting from the May 2024 issue
onwards, aiming to provide comprehensive and up-to-date information on the domestic and
international textile markets.
First, VCOSA will introduce
the "Vietnam's Cotton
Imports" section, providing
detailed information on
import volumes, values,
supply markets, and cotton
consumption trends in
Vietnam. Next, the "Vietnam's
Polyester Staple Fiber
(PSF) and Viscose Staple
Fiber (VSF) Imports"
section will be added to
provide insights into import
activities, price movements,
and supply sources for these
fiber types.
Finally, VCOSA will expand its
export coverage with the
"Vietnam's Yarn Exports"
section, including 100% cotton
yarn, cotton blended yarn,
synthetic filament yarn, and
synthetic staple fiber yarn.
Information such as export
volumes, values, and major
destination markets will be
updated periodically.
With the addition of these new sections, VCOSA aims to offer readers a more comprehensive view of
Vietnam's textile market, as well as the latest trends and investment opportunities in the industry.
Information and Communication Dept.

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3
MAIN CONTENT
National news
Report and database
International news
— Hyosung TNC’s BDO factory plan gets nod from
Vietnam
— FDI capital flows strongly into textile projects
— Vietnam cotton imports: Q1-2024
— Forecast: Import prices and volume of fiber to
continue rising
— Vietnam apparel exports: February 2024
— Cotton fiber & yarn price comparison
— Cotton & polyester price comparison
— U.S. apparel imports: February 2024
— E.U. clothing imports: February 2024
— China’s cotton yarn imports by origin in Jan-Feb
2024
— Cotton outlook
— Brazilian cotton production set to soar despite
productivity dip
— Pakistan’s cotton yarn exports to China surpass
$100 million mark
— Top import markets for synthetic yarn
— China commissions world’s largest single
location PTA plant
— Brazil initiates anti-dumping investigation on
PSF imports
— Mexico to review anti-dumping duty on PFY
imports from India and China

https://vcosa.vn 4
NEWS OF THE MONTH
Source: compiled by VCOSA
🎗 In the first three months of
2024, Vietnam’s total textile
and garment export value is
estimated to reach USD 7.82
billion, an increase of 8.8%
compared to the same period
last year. Notably, during
this period, most textile and
garment enterprises have
received orders through the
end of the second quarter,
and some even have orders
extending into the third quarter
of 2024.
🎗 Theworld’sbiggestappareland
luggage zipper manufacturer
YKK has shifted its global
operations headquarters from
Japan to Vietnam. Currently,
Vietnam is the third biggest
global exporter of garments
behind China and Bangladesh,
which is the main reason for
YKK shifting its operational
headquarters from Japan to
Vietnam.
🎗 The latest ITMF Global Textile
Industry Survey depicts
cautious optimism amid
persistent challenges. Despite
marginal improvements in
order intake and capacity
utilisation rates, weak demand
continues. Fiber producers
and weavers/knitters in
South-East and South Asia
experienced notable growth,
while global average order
backlogs slightly declined.
🎗 Four major American
trade bodies, including
the American Apparel and
Footwear Association
(AAFA), the National Retail
Federation (NRF), the Retail
Industry Leaders Association
(RILA), and the United States
Fashion Industry Association
(USFIA) have united to oppose
the proposed increased
tariffs on apparel imports
from Bangladesh, India,
Indonesia, Cambodia, and
Pakistan. In a joint letter to
the US International Trade
Commission, they expressed
concerns that higher tariffs
would burden end-consumers
with increased prices.
🎗 From January to March 2024,
China’s cumulative exports
of textiles, garments, and
accessories increased to
$65.910 billion, according to
data released by the General
Administration of Customs of
China. This represents a 2.00
per cent rise from the $64.614
billion recorded in the same
period of 2023.
🎗 The cotton industry continues
to face competition from
synthetics, which are cheaper
than cotton. In addition,
there is growing competition
for markets among leading
exporting nations.
🎗 Bangladesh to support cotton
growers with incentive.
This is a significant step
towards enhancing domestic
cotton production, fostering
agricultural self-sufficiency,
and reducing dependence
on imports, thus fortifying
Bangladesh’s textile and
garment industry.
🎗 The Bangladesh government
has announced Taka 10,001
or US $91.06 as the gross
monthly minimum wage for
textile workers. The earlier
gross monthly minimum wage
set in 2018 was Taka 5,710 or
$51.99.
🎗 EU imposes anti-dumping
duties on Chinese PET
imports. The duties, ranging
from 6.6 per cent to 24.2 per
cent. Implemented for five
years, the measures aim to
safeguard the €5.5 (~$5.97)
billion PET market.

https://vcosa.vn 10
VCOSA’S ACTIVITIES
ƙ On April 1, 2024, at the VCOSA headquarters in Hanoi, Mr. Nguyen An Toan, VCOSA’s Chairman, welcomed and met
with the Commercial Counselor of Iran, Mr. Mohsen Rezaie Pour. The discussion focused on the textile production
industries of both countries, exploring Vietnamese manufacturers, exporters, and importers to connect with Iranian
businesses.
ƙ Later that evening, in honor of Ms. Ceren, the Global Program Manager forTextiles at IDH visited Vietnam, Mr.Nguyen
An Toan graciously accepted an invitation and shared an intimate dinner with IDH to discuss related activities.
ƙ On the morning of April 9, 2024, at the headquarters, Ms.
Do Pham Ngoc Tu, Vice Chairman and Secretary General of
VCOSA, had the honor of welcoming a high-level leadership
delegation from the Italian Trade Agency (ITA), including Mr.
Fabio De Cillis, Director of ITA - Italian Trade Commission in Ho
Chi Minh City (left); Mr. Enrico Padula, Italian Consul General
in Ho Chi Minh City (center); and Mr. Pham Hoang Tiet Truc
(right), Senior Trade Analyst. The meeting aimed to exchange
information and discuss the possibility of organizing events
promoting Italian textiles in Vietnam.
ƙ On the same day, in Hanoi, VCOSA welcomed a leadership delegation including Mr. Vo Manh Hung, the representative
of the Cotton Council International (CCI) in Vietnam, and Mr. Yu Man Yau, the representative of Cotton Incorporated
(CI), to explore and discuss opportunities for cooperation in organizing future events and technical seminars in the
fiber industry, scheduled for October 2024.
ƙ During the SaigonTex exhibition from April 10th to 14th, 2024, held at the Saigon Exhibition and Convention Center (SECC)
in Ho Chi Minh City, VCOSA visited, exchanged and had meetings with many international businesses and partners.
ƙ On April 26, 2024, VCOSA participated in an online meeting with Ms. Dolly Vellanki, a representative of Circ, a
company based in the Netherlands, to discuss the potential for cooperation in developing recycled textile waste as
a source of raw material.
ƙ Especially in April 2024, VCOSA had the honor of collaborating with the International Cotton Association (ICA),
the Cotton Council International (CCI), and the International Cotton Association Bremen (ICA Bremen) to organize
a series of events and specialized training courses, providing valuable information and knowledge for businesses
in the cotton, fiber, and textile industries. Let’s recap the memories of these events through the images below:
VCOSA met with Ms. Terasa Pia, a representative of
Saurer Machinery at the SaigonTex 2024 exhibition
VCOSA interacted with representatives from
Trutzschler Machinery

11
WELCOME PARTY
& NETWORKING
Bill Kingdon
ICA Managing Director
Kim Hanna
ICA President
Ho Chi Minh
Thai Binh
Hanoi
Hue
April 1 - 4, 2024

https://vcosa.vn 12
Organizer Incooperationwith Co-organizer
0346906928 vi.nt@vcosa.org.vn
Chị Nguyễn Thúy Vi - Phó Tổng Thư ký
TRADE&QUALITYMATTERS2024
APRIL 4-6,2024
ThaiBinh
Workshop Training
Quétmãđểđăngký
TS. Robert Jiang
Trưởng phòng Vận hành
và Phát triển Kinh doanh
Ông Jamie Welsh
Trọng tài Kỹ thuật

13
Organized by
COTTON CLASSING & TESTING
COMPACT TRAINING COURSE
DIPL.-ING. AXEL DRIELING
Senior Manager Cotton
Bremen Fibre Institute (FIBRE)
MR. JENS WIRTH
Cotton Quality & Rules
ICA Bremen
April 2024
23 - 24
April 2024
25 - 26
Sofitel Saigon Plaza,
HCMC

VIGO TEXTILES CO., LTD
COYATO IMPORT-EXPORT CO., LTD
WW SYSTEMS LTDA
WELCOME NEW MEMBERS

Bản tin tháng #4 | 2024
Save the Date
Organizers:
Scan to register

https://vcosa.vn 16
Vietnam Cotton & spinning association
SEP
2024
VTG 2024
Location: SECC, HCMC
Partner: Chanchao (Taiwan)
Time: 25-28/9/2024
VCOSA EVENT TIMELINE 2024
JUL
2024
VCOSA Premilinary Meeting
Location: Thai Binh
Time: TBC
VCOSA Year End Meeting
Location: TBC
Time: TBC
DEC
2024
APR
2024
Cotton Classing & Testing
Compact Training Course
Location: HCMC
Partner: ICA Bremen
Time: 23-24 & 25-26/5/2024
Vietnam Textile Summit
Location: HCMC
Partner: ECV (Shanghai)
Time: 05-06/6/2024
JUN
2024
MAY
2024
Techinical Seminar
Location: HCMC
Partner: Inovance
Time: TBC
Arise IIP Seminar
Location: Vietnam
Partner: Arise IIP
Time: TBC
FEB
2024
JAN
2024
VCOSA Year End Meeting
Location: Thái Bình
Time: 11/01/2024
APR
2024
Trade & Quality Matters 2024
Training Course
Location: Thai Binh
Partner: ICA
Time: 04 - 06/4/2024
APR
2024
ICA Welcoming and
Outreach Visit
Location: Vietnam
Partner: ICA
Time: 01/4 - 04/4/2024
MAY
2024
Seminar
Location: Vietnam
Partner: Lenzing
Time: TBC
MAR
2024
Texfuture Vietnam
Spring Summer
Location: Gem Center,
HCMC
Partner: STS
Time: 27-29/3/2024
MAY
2024
B2B Match Making
Location: Spinning Mills in VN
Partner: Mills & Customers
Time: May 2024
SEP
2024
Texfuture Vietnam
Fall Winter
Location: HCMC
Partner: STS
Time: TBC
* Event information is continuously updated Finished
VIATT
Location: SECC, HCMC
Partner: Messe Frankfurt,
Vietrade
Time: 28/02-01/3/2024
FEB
2024
NOV
2024
Brazil Cotton Day
Location: Vietnam
Partner: APRABA
Time: TBC

https://vcosa.vn 18
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https://vcosa.vn 20
REPORT AND DATABASE
1. Monthly Import Statistics
R
egarding cotton, import
volume in Q1/2024 reached
371,900 tons, a 53.6%
increase compared to the same
period last year. Import value also
rose correspondingly by 26.8% to
$730.2 million. Notably, in March
alone, import volume hit 128,100
tons, up 31.5% from February, with
value increasing 30.5% to $249.4
million.
A similar trend was observed
for fiber and yarn imports. In
the first three months of 2024,
imported fiber and yarn volume
reached 273,100 tons, a 13.4%
uptick from the same period last
year. Import value also climbed
13.6% to $574 million. Remarkably,
March saw an impressive 72.1%
surge in volume and 68.2% jump in
value compared to February.
The robust recovery in textile
raw material imports reflects rising
demand from key export markets
as well as domestic firms’ efforts
to boost production capacity after
a challenging period. This move
promises positive prospects for
the textile and garment industry in
2024.
According to preliminary
customs statistics, cotton import
volume in March 2024 reached
128,100 tons, up 31.5% from the
previous month.
A similar situation was
observed for fiber and yarn, with
March imports hitting 105,500
tons, marking a 72.1% increase
from the prior month.
March witnessed strong growth
in imports of textile raw materials
compared to the previous month.
Specifically, the import value of
fiber and yarn surged 68.2% to
$220.6 million. Similarly, cotton
import value rose 30.5% to $249.4
million.
Notably, fabric import value
reached $1.19 billion, up 50.8%.
Finally, the import value for textile
and footwear materials hit $611
million, a 61.9% increase.
To view hidden information and more detail,
please contact us:
- Email: info@vcosa.org.vn
- Hotline: (+84) 902 379 490

21
In Q1 2024, the import value of textile, footwear,
and garment raw materials increased compared
to the same period last year:
• Cotton import value reached $730.2 million,
up 26.8%.
• The fiber and yarn group’s import value was
$574.0 million, up 13.6%.
• Fabric import value hit $3.156 billion, up 5.8%.
• Raw materials and accessories for both the
textile and footwear industries reached $1.55
billion, up 12.2% from the same period last
year.
Preliminary statistics
indicate that in March 2024,
Vietnam imported 105,500
tons of fiber and yarn, up 72.1%
from the previous month and
4.5% from the same period last
year.
In March 2024,
Vietnam imported 128,100
tons of cotton, up 31.5%
from the previous month
and 34% from the same
period last year.
please contact us:
- Hotline: (+84) 902 379 490

https://vcosa.vn 28
3. Cotton Fiber & Yarn Price Comparison
C
otton fiber and yarn prices have continued to rise in India and Pakistan in March, while remaining
unchanged in China, when considering the average price levels over the month. The cotton market
indicators climbed by 6.2% in India and 2.1% in Pakistan. Cotton prices had previously increased in
January and February in China before
remaining stable in March.
In Pakistan, cotton prices have
plateaued for three weeks after an
initial rise in early March.
In India, cotton prices rose steadily
before returning to lower levels in the
last few days.
In India and Pakistan, spinners
have raised their yarn prices in line with
the increase in their material costs.
The average levels of yarn offers
rose by 4.7% and 5.5% in India and
Pakistan, respectively, in March.
For additional resources, please
contact VCOSA.
Source: ET
please contact us:
- Hotline: (+84) 902 379 490

29
4. Cotton & Polyester Price Comparison
T
he cotton/polyester price
spread experienced a
significant surge in March
in both India and Pakistan, while
it remained steady in China,
maintaining its already elevated
level.
In India, the price differential
has been on the rise for the
fourth consecutive month, with
the average levels throughout
March indicating a substantial
increase of over 25% in rupee
terms within just three months.
In Pakistan, the spread
witnessed a 5.2% increase
in March alone, marking a
dramatic 120% escalation
over the past three months.
This surge in cotton prices in
Pakistan can be attributed to
the upward trend in international
markets. Conversely, polyester
prices remained consistent with
their February levels, largely due
to the stable import prices of
Chinese PSF.
In India, the average cotton
prices in March soared by 6.2%,
culminating in a 10.7% rise over
a three-month period. With PSF
prices remaining unchanged, the
disparity between cotton and PSF
prices widened considerably.
This growing price gap is
making PSF an increasingly more
cost-effective alternative to cotton,
encouraging apparel buyers to opt
for fiber substitution in an effort to
reduce costs.
The emergence of Recycled
Polyester Staple Fibers (Re-PSF)
could soon become a reality,
offering an affordable and
sustainable alternative to cotton
fibers.
For additional resources,
please contact VCOSA.
Source: ET
please contact us:
- Hotline: (+84) 902 379 490

Head Office
L17-11, 17/Fl, Vincom Center Tower, 72 Le Thanh Ton str., Ben Nghe ward, dist. 01, HCMC
Representative Office
14-15A, 7/Fl, Charmvit Building, 117 Tran Duy Hung str., Trung Hoa Ward, Cau Giay
District, Hanoi City
Office (mailing address)
1265 Hoang Sa str., Ward 5, Tan Binh Dist., Ho Chi Minh city
œ +84 902 379 490
œ info@vcosa.org.vn
œ www.vcosa.org.vn

[VCOSA] Monthly Report - Cotton & Yarn Statistics April 2024

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