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China's PSF exports change in Jan-Apr, 2023

2023-06-21 07:51:22 CCFGroup

According to China Customs, uncarded PSF exports of China were 106kt in Apr, 2023, an increase of 18.4% year on year but down 0.9% month on month.

In the first four months of 2023, exports totaled 406.5kt, up 32.37% year on year. The exports maintained good and reached multi-year high.

In terms of the top 10 export destinations in Jan-Apr, 2023, Vietnam remained the largest export markets, with a volume of 63,923 tons, up about 27% from the same period of 2022. Except the United States, exports to these major markets all saw two-digit growth year on year, especially Brazil, it has increased by 136% year on year, to reach 24,523 tons. Exports to the United States kept shrinking, to see a yearly decline of 26.3% in Jan-Apr, 2023.

Top 10 export destinations of PSF in Jan-Apr, 2023
Unit: KT	2023	2022	yearly change
Vietnam	63,923.04	50318.976	27.04%
Pakistan	50,078.94	30906.418	62.03%
Brazil	24,522.59	10396.838	135.87%
Bangladesh	24,377.83	18496.613	31.80%
Indonesia	23,046.19	12925.868	78.30%
Turkey	21,690.13	18421.25	17.75%
United States	20,210.37	27418.957	-26.29%
India	15,037.17	8109.853	85.42%
Israel	13,940.23	11763.229	18.51%
Russia	12,796.54	7643.28	67.42%

For the export market proportion, Vietnam took the largest share of 15.73%, but the share reduced by 0.66% year on year. Pakistan and Brazil took the second and third largest shares, and their shares increased by 2.3% and 2.7% respectively. Again, the shares of United States reduced to 4.97%, down 3.96% year on year.

PSF exports continue to increase year on year in Jan-Apr, 2023. This year, there are still large new capacities of PSF into operation, mostly in Q3 and Q4. Hengyi Yida's new unit plans to start up in Mar previously, and now, it has delayed and started up in May. With the larger supply, PSF exports may keep increasing.

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