BDO export grows 30% in H1 2024

According to customs data, the export volume under tariff code 29053990 (including BDO) in June 2024 was approximately 31,741 tons, representing a month-on-month increase of 16.4% and a year-on-year increase of 37.5%. The average export price was $1.332/kg, a decrease of $0.067/kg compared to the previous month's export average. In the first half of 2024, the total export volume under this tariff code was approximately 149,000 tons, a year-on-year increase of 23.2%, with an average export price of $1.418/kg, down about $0.296/kg year-on-year.

According to preliminary checks from CCFGroup, the export volume of BDO in June 2024 was about 25,000 tons, with a month-on-month increase of about 25%, reaching again the peak export volume. The cumulative export volume of BDO in the first half of the year was approximately 111,000 tons, a significant year-on-year increase of about 34.6%.

In the first half of the year, the main export destination for BDO was Vietnam, accounting for 44% of China's BDO export volume, making it the largest export destination. With the recovery and growth in overseas demand, the export volume to Vietnam increased by over 50% year-on-year. As the competitiveness of China domestic BDO products improves, the export volumes to markets such as South Korea, Taiwan, and Malaysia have also seen significant year-on-year increases. The substantial decline in domestic BDO prices, coupled with increased production capacity and stable quality in recent years, has made domestic products more competitive in the export market.

The main origins for BDO exports are concentrated in key production areas and provinces with a high volume of trade. Jiangsu is the largest shipping location for BDO exports, primarily for trade. Other significant BDO producing regions such as Ningxia, Xinjiang, and Henan also have notable export volumes.