VFY export of China drops below 10kt in Sep

According to customs data, VFY (H.S. code: 54033190) export of China dropped by 25.74% month on month but grew by 27.03% year on year to 9.074kt. In the first nine months of 2025, the exports amount to 83.722kt, rising by 22.31% on yearly basis. The average export volume in Jan-Sep this year is 9,302 tons, which is much higher than 7,606 tons in the same period of 2024.

The export price of VFY in Sep further climbed up to $5,276/mt. In the first nine months of 2025, the average export price is $5,186/mt, which is lower than $5,359/mt in the same period of 2024.

India and Pakistan continue to take the leading positions in China's VFY export, accounting for 85% of total in Sep this year. As for origins, Jilin, Henan and Sichuan are the major origins, taking up 85% of the total volume.

Except for an increase in export to India and Pakistan that was respectively 35.26% and 56.81% compared to Sep of 2024, the export to other major destinations like Turkey, South Korea and Italy all declined on yearly basis, with a reduction from 32.5% to 58.9%. As for the major origins, the export from Hubei saw a notable increase of 60%, and that from other major origins generally increased by 12-22% year on year.

The export volume in Sep has declined somehow but still much higher than the comparable 2024 level. The overall export market performance remains fairly well, providing support to VFY sales. The short-term VFY market is still expected to be stable when the supply and demand sides are largely balanced.