DOP import reduction and export increase year-on-year in the first half of 2023

August 02, 2023

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In the first half of 2023, the cumulative import volume of DOP market was 707.67 tons, a year-on-year decrease of 78.92%, and the cumulative average price was at the level of 1343.88 US dollars per ton.

From the above figure, it can be seen that the monthly import volume in the first half of 2023 was significantly lower than the same period last year, with the highest quantity in February, but still only at the level of 206.46 tons, while the import volume in April was the lowest, only at the level of 31.79 tons.

The average import price in the first half of the year was around 1343.88 US dollars per ton, which is around 10000 yuan in Chinese yuan. However, taking the Jiangsu market as an example, the average price in the first half of the year was around 9887 yuan per ton. The main reason for the decrease in import quantity is still the inversion of internal and external prices. The main source of import is Japan, which accounts for 38% of the total quantity. Most of the transactions are small liquid bags, and the market supply in the second half of the year is still abundant, The import volume may still remain at a low level.

In the first half of the year, the export volume of DOP showed good performance, with a cumulative export volume of 39191.78 tons, a year-on-year increase of 93.45%, and the monthly average export volume remained above 6000 tons.

There has been a significant increase in export volume, with April having the highest export volume at the level of 8168.03 tons, and January having the lowest export volume at the level of 5179.38 tons. In the first half of the year, there were 77 DOP exporting countries and regions involved, with Egypt continuing to be the largest monthly export destination country. In the first half of the year, a total of 9770.78 tons, accounting for 25% of the total, followed by Kenya with a quantity of 3435.44 tons, accounting for 9%, and Peru with a quantity of 2723.62 tons, accounting for 7%.

In the second half of the year, Jiuhong's annual production capacity of 100000 tons of equipment will be released, and there is an expectation of growth in domestic supply. With relatively stable export orders from DOP factories, domestic supply pressure will be alleviated to some extent. It is expected that the export level will still maintain a monthly average of over 6000 tons in the second half of the year.

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