BDO export continues rising

According to customs data, the export volume under HS code 29053990 in April 2024 was approximately 31,200 metric tons, a year-on-year increase of 23.8% and a month-on-month increase of 12.4%. The average export price was $1.377 per kilogram, with a slight decrease of $0.042 per kilogram compared to the previous month.

Following a low point during the Chinese Lunar New Year holidays in January and February, exports of products under HS code 29053990 continued to rise in March and April as demand recovered.

Preliminary data indicates that the monthly export volume of BDO under this HS code in April was close to 25,000 metric tons, marking a new peak in BDO exports. Export volume continued to rise while export prices remained low. Compared to March, there was a slight increase in prices in April, but export prices remained at a low level overall.

Vietnam remains the largest market for BDO exports, accounting for over 30% of the total monthly exports, despite a decrease of around 17% compared to the previous month. Export volumes to South Korea and Taiwan of China in April showed noticeable increases, reflecting overseas demand recovery and a concentration of export shipments in April. Incremental exports to markets like India, Turkey, and a gradual improvement in exports to European markets were also observed.

China domestically, products have strong competitiveness in terms of supply, price, and quality. However, challenges such as the exacerbation of the "red sea" crisis, ship diversions, and reduced fleet turnover have led to a tight shipping capacity situation. In the short term, shipping prices may continue to rise, and freight rate and capacity issues are adding complexity to negotiations for export orders.