Yarn is an important input product of the textile industry today. It is very diverse in color, quality, origin.
Vietnam is a yarn producing country with significant export volume to countries in the region and around the world. Therefore, enterprises can look for yarn business opportunities in this country with reasonable cost and high profit.
The following article will help businesses get more information on the topic: “how to import Yarn from Vietnam “
Origin of yarn from Vietnam
The origin of Vietnamese fibers is very diverse and is divided into two main categories: natural fibers and man-made fibers. Natural fibers from cotton, jute, flax and silkworm cocoons.
Synthetic fibers are made from Polyester, Nylon, Acrylic. Therefore, the manufacturing process of these fibers is also different.
From jute, flax, silk, natural products are usually from the high mountain forests of Vietnam. Besides, the main input material of the yarn industry is raw cotton, with more than 50% coming from the US and other countries such as Brazil, India, Australia, and West Africa.
Man-made fibers that are processed and produced by chemical methods mainly come from different countries around the world. Currently, there are many enterprises producing this product such as Vietnam Petrochemical and Fiber Joint Stock Company (VNPoly), Vietnam Fiber Joint Stock Company, Joint Venture Enterprise Manufacturing PE Cotton Sheet , and some other companies. companies with foreign or other foreign investment.
The production bases are mainly in the Red River Delta, the Mekong River Delta and surrounding areas. Thanks to abundant human and material resources, the manufacturing industry is constantly developing, bringing great value and profits.
>> Read more: Basic guide to import garment fabrics from Vietnam at [hienthinam]
Yarn import market in Vietnam
Currently, products of Vietnam’s yarn industry account for more than 70% of output used for export. According to statistics of the General Department of Customs, the group of textile fibers and fibers has been exported to 18 countries and achieved an export turnover of 1.3 billion USD (in 2016).
China’s largest export market, accounting for about 55 – 70%, depending on the period. In addition, other markets include Korea, Taiwan, Bangladesh, Brazil.
In 2021, Vietnam’s fiber exports will reach 1.32 million tons, worth $3.6 billion. At the same time, the industry was affected by circulation restrictions, but exports still maintained a turnover of over 400 million USD/month.
The price of cotton yarn increased the most (18 – 20%), poly-visco yarn (up 16 – 17%), poly yarn and poly-cotton blended yarn also increased by over 10%.
The average export price of Vietnam’s cotton yarn is about $2.37/ton in 2020 and will increase in 2021.
It can be said that the yarn market in Vietnam is very large in terms of quantity and quality, and diverse designs. Therefore, many textile and garment enterprises, doing business in the fashion field, always give this country the top priority when looking for a place to supply production inputs.
How to import yarn from Vietnam? Shipping Process
You need to pay attention to the HS code of the exportable product:
- 5031: Flax (raw or not spun)
- 5320: Hemp (raw or not spun)
- 5305: coir and abaca and other textile fibers of vegetable origin.
- 5306: Linen yarn.
- 5307: Jute yarn.
- 5308: Fibers of vegetable origin.
To Import Yarn From Vietnam, we need to understand the following process:
Step 1: Sign the contract and prepare the goods
After the contract is signed, the business needs to check the goods according to the requirements from the contract and pack them carefully before transferring to the warehouse.
Step 2: Prepare documents, means, customs declaration
Standard export customs documents include:
- Business registration of exporting enterprises, Confirmation of tax identification numbers (First time export)
- Commercial contract
- List of goods
- Container handover minutes
- Certificate of Origin (C/O)
Specifically, suppose that the place to do customs procedures directly is the headquarters of the border gate Customs Sub-Department.
The office of the Customs Sub-Department outside the border gate is also the place to receive the dossiers.
On the contrary, if the enterprise chooses to make an electronic customs declaration, the place to receive and process the customs dossier may be the Customs of the province, inter – province or city directly under the Central Government.
Step 3: Transfer the goods to the ship
Before that, the business needs to provide a bill of lading. Then, the shipping unit ships the goods to the importing country.
>> See More: Importing Furniture From Vietnam – and Potential Manufacturing Market
About Vncomex Joint Stock Company
Importing goods from Vietnam is not a complicated process, but not all businesses understand this process well. Therefore, Vncomex JSC was born to bring the best import – export services to customers.
We always devote maximum resources with the most professional and dedicated staff to ensure the most stable and perfect quality to our customers.
With many years of operation in the field of Logistics and working with hundreds of different customers, Vncomex JSC is committed to providing exemplary services at reasonable and reliable prices.
Some of Vncomex JSC’s main services include:
- Consultancy on customs procedures
- The import-export service
- Shipping by sea, by air
- Domestic and international shipping
- Transporting construction goods, moving factory machinery.
The article provided information about yarn and export process from Vietnam. It is a product with large output, diverse designs and materials. At the same time, through the articles that we give, you will surely choose the most suitable product for your business.
Vncomex JSC looks forward to having the opportunity to become a partner of the Company in the near future.
Thank you for reading!