It is expected that growth in Vietnam’s cotton yarn and product export is will drive 2020/21 cotton consumption to a record 7.3 million bales, 700,000 higher than the previous year’s reduction from COVID-19, according to the latest report from the United States Department of Agriculture.
Cotton yarn exports from Vietnam in 2020/21 have already exceeded the previous year’s record by more than 10 per cent.
Overseas demand has been primarily driven by China. Vietnam’s cotton yarn exports to China account for roughly 60pc of Vietnam’s total cotton lint consumption.
China is the world’s largest cotton yarn importer.