Vietnam’s cotton yarn self-sufficiency rate is gradually declining

According to Vietnam’s “Economic Times” report, the Vietnam Cotton Yarn Association stated that the cotton planting area in Vietnam has been declining year by year, and the output is decreasing day by day. In 2001-2002, Vietnam’s cotton planting area reached 32,600 hectares, but now it is less than 3,000 hectares. In 2000, cotton production was 12,000 tons, but in 2010 it was only 3,500 tons. In 2000, Vietnam’s cotton industry could meet 20% of the domestic spinning industry’s raw material needs, but now it only accounts for 1.3%. At present, Vietnam’s spinning enterprises account for 6%, weaving enterprises account for 17%, printing and dyeing enterprises account for 4%, and garment enterprises account for more than 70%. Because Vietnam cannot produce its own raw and auxiliary materials for textiles and garments, it can only rely on imports. The main import destinations are China, South Korea, and ASEAN.