VFY export to India posts a y-o-y increase of 66.5% in Apr

According to customs data, VFY (H.S. code: 54033190) export of China in Apr 2024 is 7,516 tons, a month-on-month decrease of 1.07% but a year-on-year growth of 26.64%. In Jan-Apr, the cumulative export volume is 28,905 tons, up 10.07% from the same period of 2023 with the volume of 26,260 tons. The average export volume in the first four months of 2024 is 7,226 tons, which is much higher than 6,565 tons in the same period of 2023.

However, the export price of VFY has been falling since the beginning of this year, from $5,676/mt in Jan to $5,267/mt in Apr. In Jan-Apr this year, the average export price is $5,440/mt, which is much lower than $5,845/mt in the same period of 2023.

India, Pakistan and Turkey are still the top three destinations of China's VFY export, accounting for 85% of total in the first four months of 2024. As for origins, Xinxiang Chemical Fiber, Jilin Chemical Fiber and Yibin Grace are the major exporters in China, taking up 93% of the total volume.

The export volume of the top three origins like Henan, Jilin and Sichuan in Apr 2024 grows on yearly basis, and the export to the top three destinations generally increases, especially that to India, posting a year-on-year growth of 66.5% in Apr.