Vietnam Or Replace China As The World'S Largest Cotton Importer

In 2015/16, cotton consumption in China is expected to be 7 million 100 thousand tons, down 5% from the same period last year, and has decreased for sixth consecutive years.

Nevertheless, China is still the world's largest cotton consumer.

In 2015/16, cotton consumption in the world was 24 million 100 thousand tons, a decrease of 1% over the same period last year.

Due to the demand and increase of cotton yarn in China and the domestic market, consumption in India is getting closer to China. In the past three years, India's cotton consumption has increased by 27%, and 2015/16 is expected to reach 5 million 500 thousand tons, an increase of 2% over the same period.

Consumption in Pakistan is expected to be 2 million 200 thousand tons, down 12% from the same period last year, while consumption in Turkey is stable at 1 million 500 thousand tons, while consumption in Vietnam and Bangladesh is expected to grow 22% and 13% respectively, reaching 1 million 100 thousand tons.

Due to domestic

Consumption declined and cotton prices fell, 2015/16 cotton in China.

The volume is expected to be reduced by 40% to 1 million 80 thousand tons.

However, if the pace of import can remain stable,

It may replace China as the world's largest cotton importer.

In the first four months of 2015/16, Vietnam imported 327 thousand tons of cotton, while China imported only 247 thousand tons.

In 2015/16, cotton imports in Vietnam are expected to reach 1 million 100 thousand tons, up 17% over the same period last year, and Bangladesh imports are expected to be 1 million 80 thousand yuan, an increase of 12% over the same period last year.

Because of low production costs, especially low labour costs, cotton consumption in Vietnam and Bangladesh is steadily increasing.

However, unlike the top three consuming countries, Vietnam and Bangladesh do not produce cotton very much, and they must rely heavily on imports to meet domestic demand.