Vietnam Imports $90.2M Cotton from Africa in 2009
Vietnam spent $90.2 million on importing cotton from Africa last year, chairman of the Vietnam Textile and Apparel Association (Vitas) Le Quoc An said, adding 58% of that value were from mainly central and western African nations.
Addressing a meeting with African cotton producers and exporters May 6, An said a majority of imported cotton is now via brokers, causing difficulties for both sides’ businesses.
He added Vietnam is likely to invest to build spinning plants right in Africa.
The meeting, co-held by the International Trade Center (ITC) and the Vitas, aimed to assist Vietnamese firms to directly contact to Africa’s cotton suppliers.
Vietnam, which was named among the top ten garment exporting countries, imported about 300,000 tons of cotton last year with the majority from Africa, India, and the U.S.
The country bought 92,000 tons in the first quarter this year.
The domestic cotton output supplies only 10% of the country’s total demand.
Vietnam has planned to expand the cotton cultivation area to 30,000 hectares in 2015 from current 8,671 hectares to reduce the dependence in imported materials for its fiber plants. (Trade & Industry)
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