Vietnam: Cotton and Products Annual

Despite ongoing high demand, Post estimates that U.S. cotton exports to Vietnam will decline by 25 percent in marketing year (MY) 21/22 due to price volatility, ongoing logistical challenges, and tough competition from Australia. Post forecasts Vietnam cotton imports for MY22/23 will increase 5 percent to approximately 8.2 million bales or about 1.78 million metric tons (MMT). The Vietnam textile and garment industry strongly recovered in calendar year (CY) 2021 with exports increasing roughly 15 percent to $39 billion. Cotton yarn exports totaled $3.3 billion, up 34 percent year on year, resulting in higher cotton imports. Post maintains its estimates for Vietnam cotton imports in MY21/22 at 7.8 million bales or 1.70 MMT, up 7 percent year on year.