VCOSA - VIETNAM COTTON - YARN MARKET REPORT - 10/2023 ISSUE

MONTHLY
REPORT
Cotton and Yarn Statistic
OCTOBER 2023
VIETNAMCOTTONANDSPINNINGASSOCIATION
Collected & Edited: Information and
Communication Dept.
--- For internal circulation only ---

vietnamyarnprice.com
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VCOSA - Newsletter October 2023
REMARKABLE INFORMATION
China dumping fabric & garments in India; industry calls for ADD.
The top 10 cotton-producing countries in the world.
Texas cotton production hampered by unpredictable weather, threatening global supply.
Global polyester fibre exports.
US apparel sector wants five more platforms added to counterfeit watchlist.
The World Customs Organization (WCO) officially presents its new mobile app during the WCO
Technology Conference in Vietnam.
The price of imported cotton remains low.
The price of imported fiber is forecast to increase in the coming period.
Exports of fiber and yarn continue recovering.
Urgently resolve difficulties in obtaining BIS certification for exports to India.
Vietnam’s textile and garment industry is anticipating a market recovery.
The government agrees to reduce VAT by 2% in the first 6 months of 2024.
VN business landscape brightening: EuroCham’s Q3 Business Confidence Index.
Land rental fees cut by 30% for 2023.
International news
National news

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INTERNATIONAL NEWS
China dumping fabric & garments in India;
industry calls for ADD
L
udhiana, a major textile hub
in north India, is grappling
with the influx of cheaper
fabric and readymade garments
from China and Bangladesh.
The domestic industry and trade
community are concerned about
the industry’s uncertain future
if the government fails to take
remedial action. Industry players
argue that China is dumping
fabric and garments, particularly
hosiery products, into the Indian
market and urge the government
to implement anti-dumping duties
(ADD) to protect the domestic
sector.
According to industry insiders,
Chinese companies are flooding
the market with low-priced fabric
and garments, causing a slump in
domestic demand. These sources
indicate that Chinese firms have
shifted their focus to the Indian
market due to weakened demand
in the Western world.
Rajneesh Dhiman, president of
the Punjab Dyers Association, has
submitted a memorandum to the
government via local BJP leaders,
calling for restrictions on such
imports. In his letter, Dhiman stated
that heavy imports are the primary
reason for the current sluggish
demand for yarn and fabric.
He also alleged that the
government is incurring substantial
losses in custom duties due to
the under-billing of imports. The
industry body has requested the
ministry of textiles to convene a
meeting to discuss this urgent
issue and formulate a plan of
action.
Jasvindar Singh, a
trader from Ludhiana,
told Fibre2Fashion: “If the
dumping of Chinese textile
products continues, the
domestic industry will suffer
severe damage. Chinese
products are available at
50 per cent of the price of
domestic items”.
Another trader opined that
imposing anti-dumping duties on
fabric and garments imported from
China and Bangladesh is crucial,
given the current bearish textile
market.
Source: Fibre2Fashion

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The top 10 cotton-producing countries
in the world
C
otton has revolutionized the world and it has
become one of the most important staples. It is
a fluffy fiber plant that can be turned into all types
of fabric. Cotton originates in tropical or subtropical
areas throughout the world, which includes North and
South America, Asia, and Africa.
Cotton was used as fabric as far back as 4200
B.C. in Peru. Now, the uses in fabric are broad and
it’s a plant that is heavily distributed throughout the
world. Overall, about 25 million metric tons of cotton
are produced every year.
Let’s explore the top 10 cotton-producing
countries. These countries are diverse and located all
over the world.
1. China
China has produced cotton since it was first
discovered in the region of what is now Yunnan in 200
B.C. Today, China leads the world in cotton production.
The Xinjiang region, as well as the Yangtze River region
and the Huang-Huai region, are where China produces
most of its cotton.
There has been a shift in historical producing
regions in China that has paved the way for the Xinjiang
region to be the dominant force in cotton production.
The US has recently banned imports of cotton from the
Xinjiang region that uses forced labor, which means
that most cotton produced in Xinjiang is banned.
3. United States
The US is the largest exporter of cotton in the entire
world, however, it ranks third in cotton production. The
United States exports its cotton mainly to Honduras
and Mexico, among other countries.
Most of the cotton produced is concentrated in
the southern states of the country, mainly California,
Texas, Arkansas, Mississippi, Louisiana, and Arizona.
Cotton has a dark history in the US as white slave
owners in the South used black slaves to pick cotton.
2. India
The country of India is a leading cotton producer
in the world. About 6 million farmers and a whopping
50 million people rely on cotton production for their
livelihood. It is an industry that has risen dramatically
in the last few decades thanks to machinery and
technological advancements.
There has been a worry in recent months because
cotton production in the past year has taken a nosedive
in India as the pink bollworm ravages through the
crop. They have not had much luck eliminating the
pest, but hopefully, they can control the pink bollworm
infestation soon.
In China’s Tarim Basin, archeological digs found mummies from 1000
A.D. with cotton cloth over them.
©zhuda/Shutterstock.com
Major technological advancements like the spinning jenny, the cotton gin,
and the power loom greatly increased cotton production in the United
States in the early 1800s. ©Diana Borden/Shutterstock.com
India surpassed China in cotton production in the early 1980s, however,
China has turned the tables in the past few years.
©SDV Photography/Shutterstock.com

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4. Brazil
Over the past few decades, Brazil has steadily
increased cotton production. The amount of rainfall in
Brazil made the country a leading agricultural producer
including cotton. Over 92% of the South American
country’s cotton production is grown with rainwater.
The big reason for their drastic increase in
production of cotton and other crops is because of
that rainfall, farmers can double crop. When one is
ready to be harvested, another is planted immediately.
Brazil is now the second-largest exporter of the
cash crop.
6. Turkey
Over 60% of Turkey’s cotton production is farmed
in the southeastern Anatolia region of the country. It is
known worldwide as pristine organic cotton.
The country has steadily increased production
in recent years, becoming a more important cash
crop for the country. Turkey is also on the list of top
10 cotton exporters in the world because of its vast
agricultural land available to farm.
5. Australia
The Murray-Darling basin, located in the
southeastern area of Australia, is a dominant force in
the country’s cotton production. They churn out over
90% of Australia’s cotton production, with 60% being
produced in New South Wales.
Historically, cotton has been one of the leading
cropsintheOceanicnation.Inrecentyears,thenation’s
production has declined, but it is expected to have a
rebound. Australia’s growing season usually starts in
the autumn and harvesting is in the springtime.
7. Pakistan
Cotton production is an important part of
Pakistan’s economy, being one of the major crops
Pakistan produces. About 99% of cotton production
is harvested in the Punjab and Sindh regions of the
country.
Historically, it is evidenced that cotton was
discovered as early as 6000 B.C. in the country. Since
then, it has emerged as a leading country in production
where they grow the crop in its monsoon season
between May and August.
In just 10 years, Brazil doubled its production of cotton from 3 million
bales in 2000 to 7 million bales 10 years later.
©LeuCesar/Shutterstock.com
Because of Turkey’s location on the map, they are the largest cotton
producer in Europe. ©Esin Deniz/Shutterstock.com
About 98% of Australia’s cotton is genetically modified and more than
90% of its production is exported to other countries.
©Rob D the Pastry Chef/Shutterstock.com
Cotton is also called “King Cotton” or “white gold” in Pakistan because of
how important the crop is to the country.
©thsulemani/Shutterstock.com

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8. Uzbekistan
Located in central Asia, Uzbekistan is a major
producer of cotton and the crop is extremely important
to the country’s economy. Human rights activists have
protested Uzbek cotton production in the past decade
because of the country’s use of forced labor.
Recent governmental reforms have led to activists
stopping the protests and calling off boycotts. Cotton
used to be state-regulated until that was abolished
and the market was liberalized in 2020.
10. Mali
Mali has emerged as the leading producer of
cotton in Africa. It rivals other nations on the continent
and comes up on top. Because over 4 million people
rely on cotton for their livelihood, it has been revealed
that cotton has become an important crop in the
country.
The government is one of the leading reasons
why farmers have increased production as they set
out these targets. Most of the organic cotton grown
in Mali is concentrated in the Koutiala and Bougouni
districts of Mali’s Sikasso region.
Source: A-Z animals
9. Argentina
One of only two South American countries on
the list, Argentina is one of the leading producers of
cotton and the country heavily relies on the crop as an
economic driver.
The 20th century was a major turning point for
Argentina and its increased production of the crop.
Cotton production is mainly concentrated in the
northern regions of the country with the Santiago del
Estero and Chaco provinces being the top producers
in the country.
Uzbekistan’s cotton is grown from April to September when it is harvested.
©Isroil/Shutterstock.com
Besides Mali, the other main cotton producers in Africa are Benin, the
Ivory Coast, and Burkina Faso. ©africa924/Shutterstock.com
Recent droughts in Argentina have negatively affected cotton production
in the country. ©walter javier godoy/Shutterstock.com

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The world export of fibres centres around cotton (49%), followed by
wool and other animal hair (13%); and polyester (12%). Viscose and Acrylic
contribute to the extent of 6 and 4 percent respectively. The distribution of
world fibre exports reflects a balance between natural and synthetic fibres,
each catering to different consumer preferences and industrial applications.
Globalpolyesterfibreexports
Globalpolyesterfibreexports
W
hile natural fibres like
cotton and wool continue
to hold a strong position,
the presence of synthetic fibres
like polyester, as well as manmade
cellulosic fibres like viscose,
indicates the demand for diverse
materials to meet various needs
within the global market.
This distribution also
reflects a growing awareness of
sustainability and the desire for
eco-friendly alternatives, as seen
in the contributions of viscose
and acrylic, both of which have
relatively lower environmental
impacts compared to some other
materials.
Global Polyester Exports in USD Bn
Polyester exports have been
progressively increasing. The
figure below brings out that a total
polyester fibre export of 2.3 Bn
USD has reached an export figure
of 4.7 Bn USD.
The significant increase in
polyester fibre exports reflects the
material’s widespread application,
affordability, and versatility.

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As the global economy
continued to evolve, emerging
markets in regions like Asia, Africa,
and South America presented
opportunities for polyester fiber
growth. These markets were
experiencing rapid urbanization,
rising disposable incomes, and
an expanding middle class, all of
which contributed to increased
demand for textiles and apparel.
Polyester, being a widely
used synthetic fibre, has a global
supply chain that involves multiple
countries. Asia remains the main
supply source to the world. Some
of the major suppliers of polyester
fibre and related products are:
China is one of the largest
producers and exporters of
polyester fibres and textiles. The
country’s advanced manufacturing
capabilities,extensivesupplychain,
and costeffective production have
positioned it as a dominant player
in the global polyester industry.
India is another significant
supplier of polyester products,
including fibres, textiles, and
garments. The country’s
textile industry, backed by a
skilled workforce and diverse
manufacturing capabilities,
contributes to its role as a major
exporter.
Taiwan is known for its
specialization in the production
of high-quality polyester fibres
and textiles. The country’s
technological expertise and focus
on innovation have
helped it maintain a
strong presence in the
global market.
South Korea is
a notable supplier
of polyester fibres,
fabrics, and technical
textiles. The country’s
emphasis on research
and development, as
well as its commitment
to quality, contribute
to its competitive
position.
Vietnam has
emergedasakeyplayer
in the global textile
and apparel industry,
including polyester-
based products. The
country’s strategic
location, favourable
trade agreements,
and growing manufac-
turing capabilities have
driven its polyester
export.
Indonesia is
another significant
exporter of polyester textiles and
fibres. The country’s abundant
raw materials and growing textile
industry contribute to its role in the
global supply chain.
Thailand’s involvement in the
polyester supply chain highlights
its role as a contributor to the
global textile and fibre market.
Like other countries with a strong
textile industry, Thailand’s position
as a supplier may be influenced
by factors such as production
capacity, trade agreements,
technological advancements, and
market demand. Table-7 below
highlights the supply-side trend of
top five supplying countries.
Source: Fibre2Fashion
The Global Suppliers
Top Suppliers of Polyesters in USD Mn.
Major Polyester Suppliers

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US apparel sector wants five more platforms added to
counterfeit watchlist
T
he AAFA is recommending
five platforms be added
to this year’s NML report
including Meta and all of its
platforms, Threads, Alibaba Cloud,
Shopee, DHgate and Lazada. The
five platforms had not responded
to Just Style’s request for comment
at the time of going to press.
The AAFA said in its letter
to Daniel Lee, assistant US
Trade Representative (USTR)
for Innovation and Intellectual
Property:“Brandprotectionisacore
advocacy pillar for AAFA. Through
AAFA’s Brand Protection Council
(BPC), AAFA advocates for the
protection of intellectual property
(IP) rights; builds awareness of
the dangers of counterfeits to
businesses, consumers, workers,
and the environment.”
Citing data from the National
Association of Manufacturers,
the letter claimed that counterfeit
products sucked $131bn (about
$400 per person) from the US
economy in 2019 and destroyed
more than 300,000 US jobs and
wiped away nearly $10bn in federal,
state and local tax revenues.
Source: Just Style
The letter states: “AAFA
members invest millions to build,
train, and inspect supply chains
to ensure that the clothes, shoes,
and accessories bought and worn
by American families are not only
fashionable and affordable but
are also ethically and sustainably
sourced and made, and safe for
consumers.
“Counterfeiters have a different
view of the world. Their entire
businessmodelisbasedonstealing
somebody else’s innovation and
identity, so it is with little remorse
that they exploit workers, engage
in wage theft, employ shoddy
factories, dump hazardous waste
into rivers and lakes, and use
dangerous chemicals. When they
lure folks into buying their fake
products, they often dabble in more
thievery, exposing consumers to
financial scams. The fact that
authentic brands invest so much
in social and ethical effort only
widens the profit margins of
counterfeiters because they are
often able to score a sale, without
paying for any of the compliance
while duping customers into
believing has occurred.
“What happens to the profits
of these ill-gotten gains? They
become the seed capital for
organised crime, terrorist activities,
and yet more counterfeit activity.
“All online platforms,
regardless of where they are
headquartered — need the same
accountability as the corner store
to stop the promotion and sale of
counterfeits. The United States
should be leading this effort”.
TheAmericanApparel
& Footwear Association
(AAFA) is calling upon
the United States Trade
Representative (USTR)
to consider adding
several platforms to
the 2023 Review of
Notorious Markets for
Counterfeiting and Piracy
(NML) lists.
“All online platforms, regardless of where they are headquartered — need the same accountability as the
corner store to stop the promotion and sale of counterfeits”. Credit: Shutterstock.

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I
nformation from the Ministry of
Industry and Trade of Vietnam
said that recently it received
feedback from some steel and
footwear manufacturing and
exporting businesses of Vietnam
about difficulties in applying for
new/renewing BIS certification from
India.
Accordingly, some businesses
have completed submitting dossiers
as required but have not received BIS
certification from India to continue
exporting activities to this market.
To support Vietnamese
businesses in resolving obstacles,
on September 28, 2023, the
Ministry of Industry and Trade sent
a diplomatic note to the Ministry of
Industry and Trade of India notifying
about difficulties of Vietnamese
businesses related to applying for
BIS Certification from the Bureau
of Indian Standards and requesting
the Ministry of Industry and Trade
of India to promptly handle matters
related to BIS Certification for
Vietnamese businesses to maintain
a favorable trading environment,
avoid disrupting supply chains and
affecting bilateral trade between the
two countries.
The Vietnamese Trade Office in
India also worked with the Bureau
of Indian Standards to look into
the matter. It was reported that
within the framework of the 18th
Joint Committee Meeting between
Vietnam and India in Hanoi on
October 16, 2023, the Ministry of
Industry and Trade exchanged with
the Indian side about difficulties of
Vietnamese businesses in obtaining
BIS certification and requested the
Indian side to promptly handle it.
At the same time, the Asia-Africa
Market Department directly worked
with the Commercial Counselor,
Embassy of India in Vietnam,
requesting the Embassy of India
to coordinate with relevant Indian
agencies and soon have specific
measures to address difficulties for
Vietnamese businesses.
The Ministry of Industry and
Trade said it will compile a list of
businesses and continue working
with the Indian side to promote
resolving obstacles.
Source: Customs News
The certification of standards issued by the
Bureau of Indian Standards under the Ministry of
Industry and Trade of India (abbreviated as BIS) is a
mandatory certificate that manufacturers inside and
outside India must have for products to be distributed
and consumed in the Indian market. The list of items
requiring mandatory BIS certification is increasingly
expanded to many types of goods such as chemicals,
toys, steel, footwear, tires, synthetic fibers... which are
all items that Vietnam is exporting to India.
TobegrantedaBIScertificate,manufacturersneed
to prepare the following documents: (1) registration
application form with a registration fee of 1000 INR; (2)
address verification certificate of the factory; (3) list of
manufacturing machinery; (4) list of testing equipment
according to ISS and related calibration certificates;
(5) product usage guidelines; (6) list of raw materials
with analysis certificates; (7) factory layout diagram;
(8) flow chart of manufacturing process with brief
descriptions and intermediate quality control points;
(9) in-house test reports for all possible tests according
to Indian Standards; (10) acceptance letter for product
usage guidelines, marking fee; (11) consent letter
(if full-fledged testing facility is not available); (12)
technical parameters related to the product (if any).
Typically, the certificate is initially granted within
1-2 years and then renewal may be considered with a
period of 5 years.
Urgently resolve difficulties in
obtaining BIS certification
for exports to India
Vietnamese businesses
facing difficulties in
obtaining new/renewing BIS
Certification from Bureau of
Indian Standards need timely
information provision. The
Ministry of Industry and Trade
of Vietnam will continue
working with the Indian side to
promote resolving obstacles.
Businesses facing difficulties in applying for BIS Certification from Bureau of Indian Standards

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A
fter enduring a challenging
nine-month period, the
Vietnamese textile and
garment industry is looking forward
to a more favorable global market in
2024.
Textiles and garments decline
across all markets
Mr. Cao Huu Hieu - General
Director of Vietnam Textile and
Apparel Group (Vinatex) assessed
that the first 9 months of 2023 have
been the most difficult period in
Vinatex’s operational history. Even
duringtheperiodheavilyimpactedby
the COVID-19 pandemic, maintaining
production and business efficiency
was not as tense as it is now.
Statistics show that Vietnam’s
textile and garment exports reached
$29.7 billion by the end of September
2023, down 14% compared to the
same period in 2022.The US remains
the largest market, accounting for
over 40% of Vietnam’s textile and
garment industry market share,
followed by Japan, the EU, South
Korea, and China.
According to Vinatex’s
representative, in general, export
turnover decreased in major markets
due to reduced demand. For the EU
market, by September 2023, there
was still a downward trend due
to sharply reduced orders from
major partners such as Decathlon,
Nike, and Adidas. In the first half of
2023, Vietnam’s textile and garment
industry also lost 1.3% of market
share in the US market. Vietnam’s
textile and garment exports to China
in the first 8 months were only $7.5
billion, down 11.6% year-on-year.
However, amidst the generally
“gray” market picture over the past
9 months, there have been some
“bright spots”, namely the strong
growth of countries participating in
the Comprehensive and Progressive
Agreement for Trans-Pacific
Partnership (CPTPP) such as
Japan, Canada, Australia, and New
Zealand. In addition, the textile and
garment industry has also opened
some new markets in Africa and the
Middle East. This has helped offset
the decline in export turnover in the
context of sharply reduced demand
from major markets.
The market is expected to
gradually warm up
Vinatex’s leadership believes
there will not be many “bright spots”
in the last months of 2023 and
early 2024. Order volumes have
not shown signs of increasing, and
some units even have to “scrape
by” on a monthly basis. Processing
prices remain 30% lower than before.
Competition on price with other
textile exporting countries such as
Pakistan, Indonesia and especially
Bangladeshisbecoming morefierce.
At the same time, requirements from
buyers are increasing, with smaller,
more complex orders still the trend
in the short term.
However, Q4/2023 market
trends have shown some positive
changes as the Fed did not raise
interest rates in September but
postponed it until later in the year, the
US and Chinese markets recovered
well, with the purchasing managers’
indices for the US and Chinese
markets both over 50 points (higher
than forecasts); EU inflation fell 4.3%
in September and Vietnam’s goods
exports increased 4.6% year-on-year
in September 2023.
In addition, Vietnam’s textile
and garment export market reached
a peak of $4.06 billion in August
2023, and while it declined slightly
in September, exports to the US and
China markets increased by 2% and
11%, respectively, year-on-year; the
towel/household goods industry
continued to maintain advantages
in raw material prices and export
markets; the garment industry saw
most units having low capacity in
Q4/2023 but signs of customers
increasing communications.
Mr. Le Tien Truong, Chairman
of the Vinatex Board of Directors,
emphasized that overall, the 2024
market is likely to see improved
demand compared to 2023, but the
level of improvement will be small,
with total 2024 demand expected
to remain 5-7% lower than 2022;
prices may increase on the basis
of reduced quantities and higher
quality, non-financial standard
requirements. In addition, Vietnam
has advantages such as interest
rates returning to pre-disease levels,
competing countries having sharply
reduced their currencies in 2022-
2023 so there is little room left,
and the government’s tax and fee
reduction policies may be extended
into 2024.
Providingamorespecificoutlook
on markets, Vinatex’s leadership
believes that the US market in 2024
will be better than 2023, while the
EU market is expected to gradually
warm up from Q3 2024. In the current
climate of uncertainty, companies
should diversify markets and be
cautious about diversifying products
as this is still related to equipment
investment. When researching
markets, it is necessary to determine
short-term and medium-term plans
to adjust orders accordingly.
Source: Vietnam Laws Magazine
Vietnam’s textile
and garment
industry
is anticipating a
market recovery

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12
T
he World Customs
Organization (WCO) is
pleased to present its
new mobile application “HS
Browse & Check”, a mobile
application designed to
providecustomsprofessionals
and international trade
enthusiasts with convenient
access to the Harmonized
System (HS) 2022.
Complementing WCO
Trade Tools (wcotradetools.
org) which provides tools for
easy classification and other
complementary content,
the mobile app has been
designed to ensure a quick
verification of any H.S. code
and the navigation within the
entire HS 2022.
Carefully developed
by the WCO, the HS
Browse & Check App
provides a user-friendly
platform to quickly access
the content of HS 2022,
including Legal Notes,
Explanatory Notes, and
Classification Opinions,
all from the convenience
of your mobile device. Say
goodbye to the hefty 15kg
of the paper version and
have everything at your
fingertips!
Its intuitive search feature
allows users to swiftly verify
HScodes,andaccessinstantly
its associated content in its
most recent version. This
functionality ensures customs
professionals and traders
have immediate access
to accurate information,
providing valuable guidance
and clarification on the
interpretation and application
of HS codes.
Mastering the HS is
crucial for efficient trade
operations, compliance with
international regulations,
and well-informed decision-
making. The HS Browse &
Check App aims to equip
users with the knowledge
and tools required to achieve
these objectives seamlessly,
whenever and wherever they
need it.
This application is
available free of charge.
Explanatory notes and
Classification Opinions
are accessible exclusively
to users who already
have a subscription on
wcotradetools.org, ensuring
uninterrupted access to the
Harmonised System. Whether
users are on the move or at
their desks, this app will keep
them connected to the latest
updates of the HS content.
Available now for
download on both the App
Store and Google Play, get
your hands on the HS 2022
from your mobile phone!
Source: Customs News
The World Customs Organization
(WCO) officially presents its
new mobile app during the WCO
Technology Conference in Vietnam
Texas cotton production
hampered by
unpredictable weather,
threatening global supply
A
recent report by the National Cotton
Council found producers in Texas
planted less cotton seed this year
due to weather. Drought followed by heavy
rain showers in the late spring forced many
cotton growers to abandon the acres they
had planted.
Some producers who planted irrigated
cotton despite losing more than 30 growing
days this spring and summer may have a
crop to harvest but will there be enough to
meet the growing demand for fiber?
The dates for a traditional fall harvest
for the cotton crop have not changed but
producers in the Texas Panhandle will tell
you there is going to be a significant amount
of less cotton that will be going to the gins
this year.
Global cotton production is expected
to decrease by more than four billion bales.
Combined with less cotton acreage planted
this year in Texas, if consumption exceeds
production the carryover supply from the
previous growing season will be taped into
and used up.
Source: ABC 7 News

vcosa.vn
13
Khu Công nghiệp Tích hợp ARISE
ARISE Integrated Industrial Platform
s (ARISE IIP)
K
hu Công nghiệp Tích hợp ARISE là một cơ hội đầu tư hấp dẫn cho các
doanh nghiệp dệt may tại Tây Phi. Với thị trường dệt may đầy tiềm năng
ở châu Phi, Việt Nam có thể tận dụng các lợi thế cạnh tranh như lao
động giá rẻ, nguồn nguyên liệu dồi dào và thuế ưu đãi để mở rộng sản xuất
và xuất khẩu.
ARISE IIP đóng vai trò quan trọng trong việc hỗ trợ các doanh
nghiệp đầu tư tại Tây Phi bằng cách cung cấp giải pháp hạ
tầng và tư vấn pháp lý. Chúng tôi hiểu rõ về ngành công
nghiệp và thị trường châu Phi, giúp doanh nghiệp xác
định chiến lược dựa trên những cơ hội thực tế.
Với tầm nhìn xa và chiến lược bền vững,
ARISE IIP tại Tây Phi tạo ra cơ hội vàng
cho các nhà đầu tư muốn tham gia
vào sự phát triển của châu Phi.
Đây là một hành trình đầy
hứa hẹn và tiềm năng
trong ngành công
nghiệp dệt
may.
A
RISE Integrated
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ARISE IIP plays a crucial role in supporting businesses’ investments
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have a deep understanding of the industry and the African market, assisting
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With a far-reaching vision and a sustainable strategy, ARISE IIP in West Africa offers a
golden opportunity for investors looking to participate in the development of Africa. This is
a promising and potential journey in the textile and garment industry.

Modern spindles are expected to deliver faster speeds and higher productivity while
consuming as little energy as possible. Novibra offers the right spindle to support these needs:
LENA – the Low-Energy and Noise-Absorbing spindle. With energy savings up to 6%, LENA helps
to tackle the ongoing energy crisis.
Energy savings and production increase are crucial factors for spinning mills to remain
competitive. With speeds up to 30 000 rpm, the smallest wharve diameter on the market and a
second damping system for noise reduction, LENA has become a real game-changer for many
spinners around the world, including India.
Saving Energy through Technological Optimizations
LENA was designed to achieve the highest possible speeds with low energy consumption.
Speeds up to 30 000 rpm are achieved, while saving on average 4 to 6% energy. Such achievements
were only possible through innovative optimizations. The neck bearing diameter was reduced to
5.8 mm and consequently the wharve diameter could be reduced to only 17.5 mm, a premiere
in the market. The smaller wharve diameter allows the machine to operate at lower speed while
keeping the same spindle speed and thus, the desired yarn count and twist.
Reduced Noise and Extended Lifetime
For efficient noise reduction, LENA features a second damping system. This unique and
well proven Noise Absorbing System Assembly – known from Novibra NASA spindles – provides
additional protection to the spindle bearings, ensuring minimum neck bearing load. Thanks to
lifetime grease in the damping chamber, micro vibrations are absorbed. At the highest speeds, the
damping system plays a decisive role as it significantly increases the service life.
A game-changer for Indian customers
Customers in India have been enjoying the benefits of LENA such as Divya Lakshmi Mills
Private Limited, Sri Jayajothi and Company Private Limited or SportKing.
Divya Lakshmi
With a total count of 12 000 LENA spindles, Divya Laskshmi has been successfully spinning
various yarn counts for its domestic customers. The company successfully managed to increase
speed of their 15 years old machines, without changing any motors or drives, to 24 000 rpm for
yarn count Ne 80 combed cotton compact yarn. Besides the production increase, Divya Lakshmi
was able to reduce energy consumption by up to 12%.
Sri Jayajothi
Member of the prestigious Sri Jayavilas group, Sri Jayajothi is a manufacturer and exporter
of world class quality products. The company has been running their LENA spindles at 26 400
rpm for four years already. As a result, they increased their productivity of Ne 60 100% combed
compact yarn while saving 7% of their energy consumption.
Sportking
As a leading vertically integrated textile conglomerate of India, Sportsking owns several
state-of-the-art manufacturing facilities in India. The company runs almost 30 000 LENA spindles
and managed to increase the spindle speed by 5% in their two main production lines – 100%
combed cotton Ne 40 and polyester/cotton blends Ne 40. Significantly contributing to energy
savings, LENA is the spindle of choice to tackle the ongoing energy challenge and remain ahead
of competition with unbeatable productivity levels.
Trade Press Article
Most Sold Energy-Saving Spindle in the Market
About Novibra
Novibra, the world’s leading supplier of high-speed spindles, is a subsidiary of the Rieter
Group. The company, based in Boskovice (Czech Republic), creates customer value through
system expertise, innovative solutions, after sales excellence and global presence. The leading
position of Novibra spindles is based on patented design of spindle insert and the highest quality
of the production. Almost all renowned manufacturers of ring spinning machines specify Novibra
spindles for high performance. www.novibra.com
Rieter Management AG
Klosterstrasse 32
P.O. Box
CH-8406 Winterthur
T +41 52 208 71 71
F +41 52 208 70 60
www.rieter.com
For further information, please contact:
Rieter Management AG
Media Relations
Relindis Wieser
Head Group Communication
T +41 52 208 70 45
F +41 52 208 70 60
media@rieter.com
www.rieter.com

vcosa.vn
15
VCOSA - Bản tin tháng 10-2023

vcosa.vn
16
A
ccording to the proposal
of the Ministry of Finance
to the Prime Minister, the
VAT reduction will continue to be
implemented from January 1, 2024
to June 30, 2024.
The 2% reduction in VAT tax
rate will continue to be applied
to groups of goods and services
currently applying the 10% tax
rate (reduced to 8%). The tax
reduction will exclude the following
groups of goods and services:
Telecommunications, information
technology, financial activities,
banking, securities, insurance, real
estate business, metal production
and manufacturing fabricated
metal products, mining industry
(excluding coal mining), coke
production, refined petroleum,
chemical product manufacturing,
goods and services subject to
excise tax special receptor.
The Ministry of Finance
estimates that implementing the
2% VAT reduction policy in the first
6 months of 2024 is expected to
reduce State Budget revenue by
about VND 25,000 billion.
The solution to reduce VAT
along with other tax, fee and
charge solutions are creating great
conditions to help businesses
reduce production costs, increase
profits, and increase the ability to
stimulate demand.
Source: Dynamic Thai Nguyen
The Government Office
has issued an official
dispatch on the proposal
to reduce VAT in the
first 6 months of 2024.
Accordingly, Deputy Prime
Minister Le Minh Khai
agreed with the Ministry of
Finance’s proposal to reduce
VAT by 2% in the first 6
months of 2024.
The government agrees to reduce VAT by 2%
in the first 6 months of 2024
NATIONAL NEWS

vcosa.vn
17
E
uroCham VN’s quarterly
Business Confidence Index
(BCI) has regained its upward
trajectory in Q3 of 2023, offering a
glimmerofhopefortheVietnamese
business environment moving
forward following a turbulent year.
The BCI, which is conducted
by Decision Lab, therefore provides
a periodic pulse check on the
nation’s economy since 2011.
The BCI nudged up to 45.1 in Q3
of 2023, from the previous figure of
43.5 seen in the previous quarter.
While still below the 50-point
threshold for four straight quarters,
this small rise indicates emerging
positive economic momentum.
Business sentiment appears
to be in flux. Between Q2 and Q3,
there was a three percentage point
drop in pessimism regarding the
current situation, while positive
and neutral perspectives increased
by six and four percentage points,
respectively.
Furthermore, the Q3
survey revealed a shift in
projections for the quarter to
come. Compared to responses
recorded in the Q2 survey, there
was an 11 percentage point
rise in businesses anticipating
economic stabilisation and
growth for the upcoming
quarter. On the other hand,
businesses projecting a
negative trend saw a drop of
five percentage points.
Approaching the end-of-
year period, hope and caution
persist. Though the country’s Q3
GDP grew a promising 5.3% on-
year, companies continue to be
cautious. Expectations regarding
increased revenue or orders
remained stable, with no change
seen from the previous quarter.
Just 22% of companies plan to
expand their teams in Q4, whilst
only 16% expect an increase in
investments.
The nation’s global investment
appeal remains strong. A notable
63% of surveyed businesses
positioned the country within their
top 10 FDI destinations. Even more
striking, 31% ranked the nation
among their top three, while an
impressive 16% hailed it as their
foremost investment destination.
Reflecting this confidence, over half
of those surveyed plan to increase
their foreign direct investment in
the Vietnamese market by the end
of the year.
Despite this, hurdles continue
to persist. A substantial 59% cited
administrative difficulties as their
main challenge when operating
in the nation. Challenges such
as uncertainties in rules and
regulations, hurdles in permit
acquisition, and strict visa and
work permit requirements for
foreign workers also stood out as
prominent barriers.
As a means of improving the
nation’s FDI attraction, 58% of
respondents said streamlining
bureaucracy is key, 48% advocated
for enhancing the regulatory
environment, one-third called for
upgrading transport infrastructure,
and 22% emphasised easing visa
and work permit requirements for
foreign experts.
Source: VietNamNet Global
VN business landscape brightening: EuroCham’s Q3 Business
Confidence Index

vcosa.vn
18
Deputy Prime Minister Le Minh Khai has recently signed a Prime Minister decision regarding the reduction
of land rental fees for 2023.
T
he beneficiary entities include organisations,
units, businesses, households, and individuals
who are directly leased land by the state
according to decisions, contracts or certificates of
land use rights and of ownership rights to residential
houses and other assets attached
to land.
This decision applies to cases
where the lessees do not fall
under the exempted or reduced
rental fee categories, those
whose exemptions or reductions
have expired, and those currently
receiving reductions in rental fees
following the Land Law and other
relevant laws.
The new reduction levels are calculated based on
the rental fees payable for the year as stipulated by
the law.
The decision will come into effect on November 20.
Source: VietnamPlus
Land rental fees cut by 30% in 2023
The decision will come into effect on November 20. (Photo: VNA)

vcosa.vn
19

vcosa.vn
20
VCOSA’S ACTIVITIES
ƙ On October 4, 2023, VCOSA attended an online meeting with ICA representatives from Liverpool to discuss
cooperation programs that bring value to spinning enterprises. The events aim to strengthen connections
and protect the legal and legitimate interests of cotton buyers and sellers. Expected time to organize
business connection meeting programs between ICA senior leaders and Vietnamese fiber enterprises,
along with in-depth training courses on cotton quality and trade in the first quarter of 2024 in Vietnam.
ƙ On October 11, 2023, VCOSA attended the National Meeting of Business Associations and Entrepreneurs
in Vietnam, organized by the Vietnam Chamber of Commerce and Industry (VCCI) and the Small and
Medium-sized Enterprise Association of Vietnam in Hanoi.
ƙ On October 12, 2023, VCOSA attended a consultation workshop on building a “Research Report on the
Requirements of Convention No. 102 on Minimum Social Security Standards and Relevant Current
Regulations of Vietnamese Law” in HCM City, organized by the Ministry of Labor, Invalids, and Social
Affairs. The workshop aimed to contribute to improving social security policies and explore the possibility
of joining the International Labour Organization’s (ILO) Convention No. 102 in the near future.
ƙ On the morning of October 17, 2023, VCOSA representatives, including Mr. Trinh Tan Hoang, Vice Chairman,
and Mr. Do Duc Thinh, Chief Office of VCOSA, attended the inauguration of the Mahatma Gandhi Half
Statue in Tao Dan Park, District 1, upon the invitation of the Indian Consulate General in Ho Chi Minh
City. The event was also attended by the Indian Minister of External Affairs Subramanyam Jaishankar, Ho
Chi Minh City People’s Committee Vice Chairman Duong Anh Duc, and Tran Phuoc Anh, Director of the
Department of Foreign Affairs of Ho Chi Minh City.
ƙ In the evening of the same day, in Hanoi, Mr.
Nguyen An Toan, VCOSA’s Chairman, and the
Association’s office warmly welcomed Mr.
Vo Thanh Kiet, a representative from the U.S
Department of Agriculture (USDA), USDA Office in
Ho Chi Minh City.
ƙ From October 17 to 20, 2023, VCOSA, along with Mr. Vo Thanh Kiet (USDA), conducted a business trip to
visit companies in the northern region to inquire about and update the business and production status, as
well as gather feedback for VCOSA’s activities.
The statue of Mahatma Gandhi, a great national
hero of India. Photo: VCOSA.
Mr. Vo Thanh Kiet, representing USDA, took a commemorative
photo with VCOSA. Photo: VCOSA.
Mr. Trinh Tan Hoang, Vice Chairman, and Mr. Do Duc Thinh,
Chief Office of VCOSA, were present at the ceremony.
The delegation visited An Nam Trading Co., Ltd., Thang Long Dyeing and Export Co., Ltd.,
and Bao Minh Textile Corporation. Photo: VCOSA.

vcosa.vn
21
ƙ On the morning of October 25, 2023, VCOSA Chairman had a meeting with Arise IIP representatives to
discuss the seminar program “Challenges and incentives in the Spinning & Textile industry in emerging
markets” expected to be held in December. Next, on the afternoon of October 30, 2023, VCOSA and Arise IIP
representatives continued to discuss cooperation issues and planned activities for the December conference
program 2023 in HCMC.
ƙ From October 25 to 28, 2023, VCOSA participated in the opening of the 21st International Exhibition on
Machinery and Equipment for the Textile and Garment Industry (VTG 2023) at SECC, District 7, HCMC. During
the exhibition, VCOSA collaborated with Chan Chao
International Co., Ltd. to organize a specialized seminar
and deliver speeches. Additionally, over the four days of
the exhibition, VCOSA set up a joint booth to support its
members in showcasing sample products, and providing
information through name cards, catalogs, and profiles to
connect potential customers with member companies.
ƙ On the morning of October 27, 2023, Mr. Nguyen An Toan, Chairman of VCOSA, participated in the “Green
Business Roundtable 1” program with the theme “From Awareness to Action”, organized by The Asia
Foundation and Private Economic Development Research Board IV in Hanoi. The program focused on the
goal of “Enhancing the Capacity to Implement Green Transformation Policies” for industry associations
and businesses.
ƙ On October 31, 2023, upon the invitation of the Sustainable Trade Initiative (IDH), Mr. Nguyen An Toan,
VCOSA’s Chairman, participated in a meeting with leaders from IDH, VITAS, LEFASO and agencies related to
the textile, footwear, and bag industries in Hanoi. The meeting included (1) a summary report on the results
of the cooperation agreement between the textile, footwear industries and leather industries from 2016 to
the present, including discussions on extending the cooperation agreement; and (2) the development of an
action plan for 2024 along with a schedule and organization of collaborative workshops between the public
and private sectors in the textile, footwear, and leather industries.
Mr. Nguyen An Toan, VCOSA Chairman, attended the opening
ceremony and cut the ribbon to inaugurate the VTG 2023
VCOSA, along with its member companies, provided guidance to visitors at the joint booth during the VTG 2023 Exhibition.
VCOSA’s joint booth, where sample products, catalogs, and information about member companies were displayed at the VTG 2023 Exhibition.
some pictures at the VTG 2023 exhibition

vcosa.vn
CHÀO MỪNG HỘI VIÊN MỚI
CÔNG TY TNHH
SẢN XUẤT & THƯƠNG MẠI
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Cung cấp tới thị trường Nhật Bản:

vcosa.vn
23
Seminar
TREND & INSIGHTS
Future-Proofing Spinning Operations
Organizer Sponsor
Co-Organizers
9:00 - 17:00, Wednesday
November 8th, 2023
HO CHI MINH
Le Méridien Saigon
3C Ton Duc Thang Street, D.01, HCMC
9:00 - 17:00, Friday
November 10th, 2023
THAI BINH
Selegend Hotel, 36 Quang Trung
Tran Hung Dao Ward, Thai Binh
Click here to register.
Or scan QR code
CONTACT INFO:
Ms. Vi Nguyen - Vice General Secretary
Phone: (+84) (0) 346-906-928
Email: info@vcosa.org.vn
More information:
https://bit.ly/landingpageSeminar
Ms. Franziska Häfeli
Senior Vice President,
Head Sales and Marketing,
Rieter Machines & Systems
Mr. Gerald Steiner
Vice President
Area Sales Manager Orient,
Rieter Machines & Systems
Mr. Jagadish J Gujar
Rieter Associate Manager-
Customer Education,
Business Group After Sales
Mr. Carlos Rico
Global Head of Tech
Support,
Recover Fiber

vcosa.vn
24
REPORT AND DATABASE
1. Monthly Import Statistics
Imports of cotton and fiber, yarn in September and
the first 9 months of 2023 both decreased compared
to the same period last year: Cotton imports in
September decreased 11% in quantity and 10.1% in
value compared to the previous month. Cumulatively
in the first 9 months decreased 6.8% in quantity and
28.2% in value compared to the same period in 2022.
Fiber, yarn imports in September increased slightly
by 5.5% in quantity and 4.3% in value. However, in the
first 9 months decreased 5.6% in quantity and 21.3%
in value compared to the same period last year
Cotton imports in September
were 108.5 thousand tons,
decreasing 11% compared to the
previous month. Meanwhile, fiber,
yarn imports in September reached
89.2 thousand tons, increasing 5.5%
compared to the previous month.
The import value of raw
materials serving the textile and
garment industry was basically
stable or increased slightly
compared to the previous month.
However, cotton imports recorded
a significant decrease.
• Fiber, yarn imports increased
slightly by 4.3% to US$189.1
million.
• Cotton imports decreased 10.1%,
down to US$220.3 million.
• Imports of materials and
accessories for the textile and
garment industry decreased
3.5%, down to US$519.4 million.
• Fabric imports increased 1.5% to
US$1.1 billion.

vcosa.vn
25
Vietnam’s imports of textile raw materials group in the first 9 months decreased compared to the same
period last year. The largest decreases were in cotton, fiber, yarn and fabric.
• Cotton: US$2.14 billion, decreasing 28.2%
• Fiber, yarn: US$1.61 billion, decreasing 21.3%
• Fabric: US$9.58 billion, decreasing 16.3%. Fabric remained the imported item with the largest value.
• Materials and accessories for the textile and garment industry: US$4.45 billion, decreasing 15%
Preliminary statistics
show that in September
2023, Vietnam imported
89.2 thousand tons of fiber,
yarn. This import volume
increased 5.5% compared
to the previous month and
increased 19.5% compared to
the same period last year.
In September 2023, the
amount of cotton imported
into Vietnam reached 108.5
thousand tons, decreasing
11% compared to August
2023 and decreasing 23.3%
compared to the same
period in 2022.

vcosa.vn
26
1.1. The price of imported cotton remains low
A
ccording to statistics from
the General Department of
Customs, cotton imports
into Vietnam in August 2023
reached 121.86 thousand tons,
worth 245.15 million USD, down
6% in quantity and down 8% in
value compared to July 2023,
down 8.9% in quantity and down
sharply 39.6% in value compared
to August 2022.
In the first 8 months of 2023,
the quantity of cotton imported
into Vietnam reached 880.66
thousand tons, worth 1.91 billion
USD, down 4.2% in quantity and
down 24.8% in value compared to
the same period in 2022.
Of this, cotton imports
by foreign direct investment
enterprises (FDI) in August
2023 reached 86 thousand tons,
worth 177 million USD, up 8.9%
in quantity and up 6.6% in value
compared to July 2023; compared
to August 2022 it increased 11.3%
in quantity but decreased 41.8% in
value. In the first 8 months of 2023,
cotton raw material imports by FDI
enterprises reached 585 thousand
tons, worth 1.32 billion USD, down
5% in quantity and down 25.3% in
value compared to the same period
in 2022, accounting for 66.5% of
the total quantity and 68.9% of the
total value of cotton imports of the
whole country.
23.2% in value compared to the
same period in 2022, accounting
for 41.6% of the total cotton import
quantity. Specifically, in August
2023, the imported quantity of
cotton from this market reached
27.81 thousand tons, worth 55.16
million USD, down 45.1% in quantity
and down 48.1% in value compared
to July 2023, down 45.7% in quantity
and down 65% in value compared to
August 2022.
Cotton imports from the
Australian market ranked second,
with an import quantity of 234
thousand tons, worth 528 million
USD, up 66.7% in quantity and up
26.9% in value compared to the
same period in 2022. Specifically, in
August 2023, the imported quantity
of cotton from this market reached
62.19 thousand tons, worth 132.64
million USD, up 31.7% in quantity
and up 31.4% in value compared
to July 2023, up 8% in quantity but
August 2022.
In addition, cotton imports
from many other markets declined
sharply in quantity in the first 8
months of 2023 compared to the
same period in 2022, such as:
cotton imports from the Indian
market decreased by 57.4%; from
Argentina decreased by 89.4%; from
Cote d’Ivoire decreased by 79.8%...
there were 11 markets supplying
cotton to Vietnam, up 1 market
compared to the same period in
2022. The imported quantity of
Vietnam’s cotton from all major
markets increased again compared
to the same period in 2022, except
for some markets still declining
sharply... Specifically:
Cotton imports from the US
market were largest in the first
8 months of 2023, reaching 366
thousand tons, worth 802 million
USD, up 3.1% in quantity but down
Source: VITIC
Vietnam’s cotton imports
Source: VITIC
Vietnam’s cotton imports in 2022-2023 (thousand tons)

vcosa.vn
27
It is forecast that world cotton prices will continue
to decline in the coming time as demand remains
weak amid tight supply.
Following the declining trend of world cotton
prices, it is forecast that import prices of cotton into
Vietnam will remain at low levels in the coming time.
Import price of cotton
Source: VITIC
The average import price of cotton from major markets in August 2023 decreased compared to July 2023.
Except for the import price of cotton from Cote d’Ivoire, which increased 23.4% to US$1,766 per ton...
The import price of cotton into Vietnam in August
2023 was US$2,012 per ton, down 2% compared to
July 2023 and down 33.7% compared to August
2022. Thus, August 2023 was the 12th consecutive
month that the import price of cotton into Vietnam
has decreased since reaching a peak in August 2022.
In the first 8 months of 2023, the average import
price of cotton into Vietnam was US$2,176 per ton,
down 21.5% compared to the same period in 2022.
It can be seen that the import price of cotton into
Vietnam is fluctuating continuously and is currently
declining sharply compared to the same period in
2022.
The average import price of cotton in 2022-2023 (USD/ton)

vcosa.vn
28
1.2. The price of imported fiber is forecast to increase in the
coming period
According to preliminary
statistics from customs data,
Vietnam’s imports of fiber in
August 2023 reached 30,310 tons,
worth US$39.66 million, down
1.3% in quantity but up 2.8% in
value compared to July 2023; up
0.7% in quantity but down 9.3% in
value compared to August 2022.
Vietnam’s imports of fiber totaled
266,000 tons, worth US$346
million, up 5.7% in quantity but
Vietnam imported fiber from 32
markets, an increase of 7 markets
2022. Specifically:
China remained the largest
supplier market of fiber to
Vietnam, with imports in August
2023 reaching 14,550 tons,
worth US$16.77 million, up 6.9%
compared to July 2023; up 19.6%
compared to August 2022. In
the first 8 months of 2023, fiber
imports from the Chinese market
to Vietnam reached 126,870
tons, worth US$147.31 million,
accounting for 47.5% of the
total import quantity, up 14.8%
2022.
Fiber imports from the Thai
market ranked second in August
2023, with an import quantity of
3,600 tons, worth US$4.08 million,
down 35.5% in quantity and down
40% in value compared to July
2023; down 20.1% in quantity and
August 2022. In the first 8 months
of 2023, fiber imports from the Thai
market to Vietnam reached 35,420
tons, worth US$42.74 million,
accounting for 8.7% of Vietnam’s
total fiber import quantity, up 16%
2022.
In general, in the first 8 months
of 2023, fiber imports from
Vietnam’s major supply markets all
increased, except for imports from
the South Korean which decreased
sharply by 40.3% in quantity...
Notably,theimportquantitiesof
fiber from some markets increased
strongly in the first 8 months of
2023 such as Bangladesh, Austria,
and Hong Kong...
Vietnam’s fiber imports in 2022-2023 (thousand tons)
Source: VITIC
Source: VITIC
Vietnam’s fiber imports
Jan Feb Mar Jun
Apr Jul
May
2022 2023
Aug Sep Oct Nov Dec

vcosa.vn
29
Source: VITIC
In August 2023, the average
import price of fiber to Vietnam
was US$1,308 per ton, up 4.2%
compared to July 2023, but down
9.9% compared to August 2022.
In the first 8 months of 2023, the
average import price of fiber to
Vietnam was US$1,298 per ton,
down 9% compared to the same
period in 2022.
The import price of fiber
from Thailand was the lowest at
US$1,132 per ton; followed by
China at US$1,152 per ton... and
the highest import price was from
the South Korean at US$1,715
per ton...
In Vietnam, the import price
of fiber rose slightly in August
2023 but remained low. Going
forward, fiber prices in the global
market are expected to increase
as positive developments support
the worldwide fiber industry amid
declining cotton fiber production in
several key markets.
As such, this will provide
Vietnamese companies an
opportunity to leverage prices
that have yet to surge significantly
by boosting imports of these raw
materials to prepare for production
needs down the road.
The average import price of fiber in 2022-2023 (USD/ton)
Import price of fiber
Source: VITIC
2022 2023
Jan
1,100
1,200
1,600
1,300
1,400
1,500
Feb Mar Jun
Apr Jul
May Aug Sep Oct Nov Dec

vcosa.vn
30
2. Monthly Export Statistics
Fiber and yarn exports in
September 2023 reached
153,800 tons, worth US$373.9
million. This represented
declines of 11.7% by volume
and 12.5% by value compared
to the previous month.
In the first nine months
of 2023, cumulative fiber and
yarn exports totaled 1.32
million tons, worth US$3.25
billion. While export volumes
increased 9.3% year-on-year,
values were down 13.8% over
All of Vietnam’s major textile and
garment export items declined in
September compared to the previous
month. The strongest decreases were
seen in materials and accessories for
the textile and garment industry.
• Fiber and yarn exports reached
US$373.9 million, decreasing 12.5%.
• Fabric exports totaled US$201.8
million, declining 9.5%.
• Exports of materials and accessories
for the textile and garment industry
amounted to US$155 million, falling
the most sharply at 16.4%.
• Technical textile exports reached
US$51 million, a 10.5% decrease.
According to data from the
General Department of Customs,
in September 2023, Vietnam
exported 153,800 tons of fiber
and yarn, down 11.7% compared
to the previous month. The export
value of this item was US$373.9
million, down 12.5% over the
previous month.
Vietnam’s textile
and garment exports
in September 2023
reached nearly
US$2.57 billion, down
25.5% compared to
the previous month.

vcosa.vn
31
In the first nine months of 2023, the export turnover of the textile and garment industry recorded lower
figures than the same period last year. Specifically:
• Fiber and yarn: Export turnover reached US$3.25 billion, down 13.8%.
• Fabric: Fabric exports decreased to US$1.795 billion, down 15.7%.
• Exports of materials and accessories for the textile and garment industry amounted to US$1.465
billion, down 15.9%.
• Technical textile exports reached US$496.3 million, declining the most sharply at 26.6% year-on-year.
According to preliminary statistics, in September 2023, Vietnam’s textile and garment exports reached
nearly US$2.57 billion, decreasing 6.2% compared to the same period last year.

vcosa.vn
32
2.1. Exports of fiber and yarn continue recovering
A
ccording to statistics from
the General Department of
Customs, Vietnam’s exports
of fiber and yarn in September
2023 reached 153,700 tons, worth
US$373.9 million, down 11.7% in
quantity and down 12.5% in value
compared to August 2023; up
32.6% in quantity and up 15.3%
in value compared to September
2022.
In the first nine months of 2023,
Vietnam’s exports of fiber and yarn
totaled 1.316 million tons, worth
US$3.25 billion, up 9.3% in quantity
but down 13.8% in value compared
to the same period of 2022.
After the sluggish first months
of the year, Vietnam’s exports of
fiber and yarn have recovered and
increased continuously over the
same period in export value in
Q3/2023.
According to forecasts,
Vietnam’s exports of fiber and yarn
will continue to recover in Q4/2023
as the world textile and garment
market shows signs of recovery.
Accordingly, the Purchasing
Managers’ Index (PMI) of the US
and China were both above 50
points, and inflation in the EU in
September 2023 fell to 4.3%.
Especially, according to the
Vietnam Textile and Apparel
Corporation, cotton prices for
production in Q3/2023 and
Q4/2023 have approached market
prices and been lower than in the
first six months of the year, helping
the yarn industry gain higher
efficiency. This is also a positive
signal for Vietnam to increase
exports of fiber and yarn in the last
months of 2023.
down 18.9% in volume and down
19.7% in turnover compared to
August 2023.
Vietnam’s exports of fiber and
yarn to the China reached 647.8
thousand tons, turnover of 1.71
billion USD, up 18.1% in volume but
down 2.1% in turnover compared
to the same period of 2022.
In general, Vietnam’s exports
of fiber and yarn to many markets
decreased in the first 9 months
of 2023 compared to the same
period of 2022, with exports to
some markets declining sharply
such as the US, Bangladesh,
Indonesia, Taiwan, India, Turkey...
Conversely, fiber and yarn exports
to some markets increased such
as Cambodia, Romania, the UK,
Hong Kong.
Source: VITIC
Vietnam’s fiber and yarn export
Vietnam exported the most
fiber, yarn to the Chinese market
in the first 9 months of 2023,
accounting for 49.2% of the total
volume and 52.8% of the total
export turnover of this item.
Exports of this item to the Chinese
market had decreased again in
September 2023 after increasing
continuously over the previous 4
months, with an export volume
of 77.4 thousand tons, export
turnover of 203.1 million USD,
Vietnam’s export fiber and yarn in 2022-2023
(million USD)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

vcosa.vn
33
In general, the export price levels of
Vietnam’s fiber and yarn over the months of
2023 were lower than the same months of
2022,whichisalsothereasonwhyVietnam’s
exports of this commodity increased in
quantity but still decreased in value in the
first 9 months of 2023 compared to the
same period of 2022.
Among Vietnam’s top 24 export
markets for fiber and yarn, exports to the
Italian market had the highest price of 3,757
USD/ton, followed by the Hong Kong market
with a price of 3,719 USD/ton... In contrast,
the average export price of fiber and yarn to
the UK market achieved the lowest level of
1,004 USD/ton.
Source: VITIC
Source: VITIC
Source: VITIC
Export price of fiber and yarn
Export price of fiber and yarn 2022-2023 (USD/ton)
The average export price of Vietnam’s fiber and
yarn in September 2023 reached 2,432 USD/ton,
decreasing 1.6% compared to August 2023 and
decreasing 12.8% compared to September 2022. In
the first 9 months of 2023, the average export price
of Vietnam’s fiber and yarn reached 2,470 USD/ton,
decreasing 21.2% compared to the same period of
2022.

vcosa.vn
34
3. Cotton Outlook
Source: CI
T
he International Monetary
Fund (IMF) just released an
updated set of forecasts for
global economic growth. Relative
to the figure released in July, the
October projection for 2023 global
GDP growth was unchanged (at
3.0%), but the forecast for 2024
was lowered slightly (from 3.0% to
2.9%).
The IMF stated that risks to
the outlook have become more
balanced, but it also indicated that
downside potential appears more
likely than the possibility for future
upward revisions.
Recent geopolitical develop-
ments highlight the capacity for
conditions to evolve rapidly, but
the longer-term outlook suggests
a lower trajectory than has been
enjoyed in recent decades.
Over the next five years, the
IMF predicts the average annual
rate of global growth GDP to be
3.1%. For comparison, between
2012 and 2019 (the period after the
initial recovery from the financial
crisis and ahead of COVID), growth
averaged 3.4%. In the period
between 2001 and 2007, global
growth averaged 4.4%.
With a smaller global cotton
harvest, a question for price
direction is how steep an eventual
recovery in order placement might
be and when it could occur. The
global textile supply chain tends
to overcorrect, and a possible
exampleinthecurrentenvironment
comes from the U.S. In terms of
weight volume, U.S. trade data
describe a 15-20% reduction in
shipments in apparel imports
(cotton and all fibers) relative to
prepandemic volumes. At the
same time, inflation-adjusted
figures describing consumer
spending on apparel have been
stable at levels about 20% higher
than before COVID.
Inventories are in the middle,
but the divergence between
imports and consumer spending
suggests a supply deficit of several
million bales for the U.S. alone.
If the trajectory of a recovery
in orders for the U.S. and other
consumer markets is steep and
gets underway earlier in 2023/24,
supply concerns could pull
prices higher. If the recovery is
progressive, the effects on prices
could be muted.
The timing of any recovery
should matter. Cotton prices
are more attractive relative to
competing crops than last year.
If orders resurface after
acreage forecasts are released,
the market may be reassured
by projections for more cotton
in 2024/25. If more moisture
comes to West Texas, as could
be anticipated with persistent El
Nino conditions, the suggestion
of an increase in global exportable
supply may alleviate upward
pressure on prices.
Source: CI

Vietnam Cotton & spinning association
OCT-
2024
VTG 2024
Location: SECC, HCMC
Partner: Chanchao (Taiwan)
Time: TBC
NOV-
2023
Trends & Insights:
Future-Proofing
Spinning Operations
Location: HCMC & Thai Binh
Partner: Rieter
Time: 08/11/2023 &
10/11/2023
DEC-
2023
VCOSA Year End Meeting
Location: Hanoi
Time: TBC
DEC-
2023
Arise IIP Seminar
Location: Vietnam
Partner: Arise IIP
Time: 1st half of
December
FEB-
2024
ICA's President Tour and
Workshop Training
Location: Vietnam
Partner: ICA
Time: TBC
SEP-
2023
Texfuture Vietnam
Location: HCMC
Partner: STS
Time: 20-22/09/2023
Technical Seminar
Location: Vietnam
Partner: TBC
Time: TBC
MAR-
2024
VCOSA EVENT TIMELINE
DEC-
2024
VCOSA Premilinary Meeting
Location: Thai Binh
Time: TBC
JUL-
2024
Yarn Market Trends 2024
Location: HCMC
Partner: TBC
Time: TBC
AUG-
2024
Location: TBC
Time: TBC
Technical Seminar
Location: HCMC
Partner: TBC
Time: TBC
APR-
2024
VTG 2023
Partner: Chanchao (Taiwan)
Time: 25-28/10/2023
OCT-
2023
DEC-
2022
FEB-
2023
MAR-
2023
Trade Matters
Location: HCMC
Partner: ICA
Time: 15-17/2/2023
Texfuture Vietnam
Location: HCMC
Partner: STS
Time: 22-24/03/2023
JUL-
2023
Location: HCMC
Time: 21/12/2022
VCOSA Premilinary Meeting
Location: Thai Binh
Time: 07/07/2023
JUN-
2024
Vietnam Textile Summit
Partner: ECV (China)
Time: TBC
vcosa.vn 35

vcosa.vn
vietnamyarnprice.com VCOSA - Bản tin tháng 10-2023
VCOSA - Bản tin tháng 9.2023
Seminar
TRENDS & INSIGHTS
Future-Proofing Spinning Operations
HO CHI MINH THAI BINH
Email: info@vcosa.org.vn
09:00 - 17:00 Wednesday,
November 8th, 2023
09:00 - 17:00 Friday,
November 10th, 2023
Sponsor
Organizer Co-Organizers
Head Office
L17-11, 17/Fl, Vincom Center Tower, 72 Le Thanh Ton str., Ben Nghe ward, dist. 01, HCMC
Representative Office
14-15A, 7/Fl, Charmvit Building, 117 Tran Duy Hung str., Trung Hoa Ward, Cau Giay
District, Hanoi City
Office (mailing address)
1265 Hoang Sa str., Ward 5, Tan Binh Dist., Ho Chi Minh city
œ +84 902 379 490
œ info@vcosa.org.vn
œ www.vcosa.org.vn

VCOSA - VIETNAM COTTON - YARN MARKET REPORT - 10/2023 ISSUE

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VCOSA - VIETNAM COTTON - YARN MARKET REPORT - 10/2023 ISSUE