BDO exports to Vietnam and Europe surge in Jan-May, 2023

According to the customs data for product under Hs code 29053990, export of it totaled 24kt in May, 2023 and amounted to 98kt in Jan-May, up by 137% on the year.

According to the analysis of CCFGroup, exports of BDO were near 18kt in May, a year-on-year rise of 190%, and approached around 70kt in Jan-May, 2023, up by around 153% on annual basis.

Some units were shut down near 2020 outside China, which led to reducing supply abroad. After demand recovered and domestic price in China plunged on the year, exports of BDO hiked. Exports of BDO were mainly to Vietnam, South Korea, India, Malaysia and Turkey, all apparently moving up. Exports to Taiwan, China also surged on the year. Demand restored in Vietnam and there had new demand. Exports of BDO to Vietnam surged by around 8 times on annual basis.

Besides Asia, exports of BDO to Europe also apparently advanced. Exports of BDO to European nations including Italy, Belgium, Germany and Netherland accounted for 32% of the total BDO export, close to the proportion of Vietnam.

The BDO capacity in China has increased by around 350kt/year over the end of 2022 in 2023. After adding the projects started operation in Q4 2022, the effective BDO capacity soared by more than 15%.BDO price was firm in 2023. Local rigid demand for BDO grew weakly. Increasing exports played an active role in distribution. Exports of BDO are estimated to sustain high in Jun.