PFY export exceeded expectation and the increase of export basically covered the growth of production

Jul 28, 2023

Exports of PFY were at 1720.7kt in Jan-May, 2023, up by 31.01% year on year. Factories reflected that exports of PFY are not small too in Jun. Total PFY exports are estimated to be around 2.07 million tons in the first half of 2023 when PFY export in Jun is estimated at 350kt, which will hit record high, up by 440kt or 27% on annual basis.

 Soaring PFY exports in H1 2023 were mainly attributed to the following reasons: firstly, China-made PFY enjoyed cost advantage with integration of upstream and downstream production. Secondly, the sea freight to nearby routes sharply declined. Thirdly, some buyers purchased in advance due to policy issue, such as the BIS certification of India.

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