Refined cotton export of China reaches a record high of 100kt in 2024

In 2024, refined cotton export market forged ahead, welcoming its "highlight moment" and achieving historic first for twice. Notably, the export volume in Dec saw a significant "surge," setting a new monthly record. The total export volume for the entire year of 2024 surpassed the 100k for the first time, setting a new record.

Despite a relatively weak domestic and international macroeconomic environment in 2024, the performance of refined cotton export market was eye-catching, achieving high growth for four consecutive years. According to customs data, the total export volume of refined cotton (including specialty cotton linter pulp, hereinafter the same) reached 105,557.4 tons in 2024, marking a year-on-year increase of 28.3%. Exports in Mar, Jun, Aug, and Dec experienced a "surge," each exceeding 10kt. Due to year-end stocking and competition for exports before the Spring Festival, Dec recorded the highest single-month export volume of about 12,125.8 tons, a month-on-month increase of 71.3% and a year-on-year increase of 83.1%.

The destinations in 2024 were relatively dispersed, with exports recorded to 41 countries and regions, an increase of one compared to 2023. However, the export share remained relatively concentrated, with the top five regions accounting for nearly 67% of the total.

For many years, South Korea, Japan, the Netherlands, and Thailand have held the top four positions, with South Korea continuing to take the lead. In 2024, exports to South Korea reached 31,202.7 tons, a year-on-year increase of 11.6%, accounting for 29.6% of the total. Kazakhstan emerged as the second-largest destination, becoming the biggest "dark horse," with an export volume of 12,440.7 tons in 2024, compared to zero in 2023, accounting for 11.8%.

Regarding origins, Chinese refined cotton was expected from 11 provinces and cities in 2024, with Shandong, Anhui, Hubei, and Xinjiang ranking as the top four, together accounting for over 77% of the total. For many years, Shandong has maintained its position as the leading exporter. In 2024, Anhui and Shandong were nearly neck and neck, with Shandong's export volume at 26,186.3 tons, a year-on-year decrease of 3.1%, accounting for 24.8%, while Anhui's export volume reached 26,036.9 tons, a year-on-year increase of 11.6%, occupying 24.7%. Additionally, Xinjiang showed a remarkable rise, with an annual export volume of 14,440.9 tons, a year-on-year increase of 2,559.63%, taking up 13.7%.

The refined cotton export market in 2024 experienced a "highlight moment," with export volume growing for four consecutive years, reaching a new historical high. In particular, the export volume in Mar, Jun, Aug, and Dec saw explosive growth, each exceeding 10kt. For many years, South Korea has consistently "led the way," but in 2024, Kazakhstan emerged as a "dark horse," with a significant increase in exports being one of the main reasons for the overall growth in annual export volume. In the past, Shandong was the dominant exporter, but in 2024, Anhui and Shandong were neck and neck, while Xinjiang shone brightly, with its export volume increasing by more than 25 times year-on-year, which was also a key reason for the national export total reaching a new high. Looking ahead to 2025, barring any major "black swan" events, it is expected to maintain a relatively favorable situation.