November BDO exports spike

According to the latest data from China customs, exports of products under Hs code 29053990, including BDO, amounted to 23.6kt in November 2024, down by 21.9% m-o-m and up 64.1% year-on-year. The export unit price averaged at $1.429/kg, up $0.275/kg over last month.

According to the screeningdata from CCFGroup, exports of BDO were near 17.6kt in November, down by near 26.6% month on month and surging 71.7% on the year respectively. In January-November, BDO exports approached 203kt, a year-on-year rise of around 53%.

Exports of BDO were low at the beginning of 2024 and in offseason from July to August but grew strongly in most of months.

From the comparison of BDO export flows from January to November, there has been a significant increase in exports to the Vietnamese market in 2024. The expansion of downstream industries in Vietnam has driven a large increase in export volumes in China, with the share rising significantly by 9 percentage points to 44%. Exports to South Korea also increased substantially, with the share rising by 11 percentage points to 16%.

In contrast, the export shares to markets such as Taiwan, China and Italy decreased year-on-year, although the actual export volume to Taiwan, China grew compared to the previous year, it was still lower than the increases seen in Vietnam and South Korea, resulting in a decline in export share. The export volume and share to the Italian market have both decreased year-on-year due to pressure from the domestic market. Some overseas suppliers faced difficulties in selling their products domestically, leading to a significant impact on the European market for these overseas supplies, which has caused a year-on-year decline in BDO exports from Chinese mainland to Europe.

Judging from the export origins of BDO, the number of Jiangsu and Ningxia increased significantly year-on-year from January to November, and their share rose greatly. Xinjiang's export volume will drop significantly in 2024, and the export policies of overseas products will still have a certain impact on the export of Xinjiang-origin goods. The export volume of Henan and Shanghai also advanced dramatically, with less increase than that of Jiangsu and Ningxia and the export share fluctuated slightly year-on-year.