Refined cotton export of China in 2023 hits a historical high

In 2022, refined cotton and specialty cotton linter pulp export of China was impressive, hitting new highs of 81.7kt, with a substantial year-on-year increase of 22.3%. In 2023, the export continued to reach a historical peak. According to customs data, the total export volume for the year was 82,292.1 tons, with a year-on-year growth of 0.74%. Among them, the lowest export volume was in Jun (5,403.5 tons), while the highest was in Aug (7,740.8 tons). The average monthly export volume was 6,857.7 tons.

In 2023, the export destinations for refined cotton and specialty cotton linter pulp were relatively diversified, with exports to a total of 40 countries and regions, an increase of 2 compared to 2022. However, in terms of proportion, the exports were concentrated, mainly in the surrounding areas of Asia. The top 5 destinations accounted for nearly 74% of the total.

For several years, South Korea, Japan, the Netherlands, and Thailand have consistently ranked among the top four. In 2023, Brazil surpassed the Netherlands and ranked third. Among them, South Korea remained the largest export destination, with an export volume of approximately 27,965.6 tons in 2023, a year-on-year increase of 25.9%, accounting for around 34% of the total. There was a significant decrease in exports to some European and American countries, with exports to the US decreasing by 90.3% to 346.6 tons, and exports to Germany decreasing by 82.5% to 721.9 tons.

In 2023, the export prices of refined cotton and specialty cotton linter pulp showed a "high and then low" trend. The average price for the whole year was $1792.87/mt, a year-on-year decrease of 21.06%. Among them, the highest export price was in Feb, at around $1900.48/mt, while the lowest price was in Dec, at around $1691.74/mt.

Among the top 15 destinations, France had the highest export price, at $2,378.57/mt, which was 32.7% higher than the average price. North Korea had the lowest export price, at $1,387.12/mt, which was 22.6% lower than the average price.

For many years, Shandong and Anhui provinces have been the leading exporters. In 2023, the two provinces accounted for a combined 61.2% of the total exports. Shandong's export volume was 27,014.4 tons, a year-on-year decrease of 17.6%, accounting for 32.8% of the total. Anhui's export volume was 23,324.3 tons, a year-on-year increase of 3.9%, occupying 28.3% of the total. The top five provinces accounted for a high percentage of 90.5%. Weifang and Zibo in Shandong, Suqian in Anhui, Nantong and Yancheng in Jiangsu, and Jingmen in Hubei are the major production and distribution centers for refined cotton and specialty cotton linter pulp in China.

Among the major origins, Shandong had the largest export volume and the highest export price, at around $2,010.45/mt which was 12.1% higher than the average price. Chongqing had the smallest export volume and the lowest export price, at around $574.5/mt, which was 67.9% lower than the average price.