VFY export price drops to a record low since 2022

According to customs data, VFY (H.S. code: 54033190) export of China slightly dipped by 2.84% month on month but increased by 6.46% year on year to 8.837kt. In the first half of 2025, the exports amount to 51.318kt, rising by 16.71% on yearly basis. The average export volume in Jan-Jun this year is 8,553 tons, which is much higher than 7,329 tons in the same period of 2024.

The export price of VFY in Jun drops to a record low of $4,899/mt since 2022, which is the first time of falling below $5,000/mt in the past 3.5 years. In the first half of 2025, the average export price is $5,171/mt, which is lower than $5,358/mt in the same period of 2024.

India, Pakistan, Turkey and Italy are the top four destinations of China's VFY export, accounting for 94% of total in Jun. As for origins, Xinxiang Chemical Fiber, Jilin Chemical Fiber, Yibin Grace and Hubei Golden Ring are the major exporters in China, taking up 96% of the total volume.

Among the top four destinations, the export to Turkey saw a notable reduction of 59% in Jun, while that to the other three regions generally increased, with the growth ranging within 10-34%. As for the top four origins, the export from Henan saw an increase of 16%, while that from Jilin and Hubei slightly decreased.

Feedback from end-user orders for the second half of the year indicates that the enthusiasm for VFY consumption driven by the new Chinese style trend is cooling down. However, domestic downstream upgrades and the demand for new textile machine purchases still provide some support. Furthermore, the overseas market continues to exhibit steady growth. The overall consumption of VFY in 2025 is projected to slow down compared with the past two years, but still showing an upward trend.