Vietnam Cotton Yarn Association: Cotton yarn self-sufficiency rate is declining year by year

According to a report on March 10, the Vietnam Cotton Yarn Association stated that the area under cotton cultivation in Vietnam has been declining year by year and production has been decreasing. Vietnam's cotton planting area reached 32,600 hectares in 2001-2002 and is now less than 3,000 hectares. The cotton output in 2000 was 12,000 tons, and in 2010 it was only 3,500 tons. In 2000, the cotton industry in Vietnam was able to meet 20% of the raw material demand in the domestic spinning industry, which is now only 1.3%. Today, spinning enterprises in Vietnam account for 6%, weaving companies 17%, printing and dyeing companies 4%, and garment companies more than 70%. Because Vietnam cannot supply raw materials for textiles and garments, it can only rely on imports. The main import destinations are China, South Korea and ASEAN.