China - Biodiesel - Market Analysis, Forecast, Size, Trends And Insights
China's Biodiesel Export Decreases to 192k Tons in February 2023
China Biodiesel Exports
After three months of growth, overseas shipments of biodiesel decreased by -27.1% to 192K tons in February 2023. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in January 2023 with an increase of 66% month-to-month. As a result, the exports reached the peak of 263K tons, and then fell markedly in the following month.
In value terms, biodiesel exports dropped significantly to $258M (IndexBox estimates) in February 2023. In general, total exports indicated a tangible expansion from February 2022 to February 2023: its value increased at an average monthly rate of +4.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, exports increased by +15.4% against December 2022 indices. The most prominent rate of growth was recorded in January 2023 with an increase of 60% against the previous month. Over the period under review, the exports hit record highs at 369K tons in July 2022; however, from August 2022 to February 2023, the exports stood at a somewhat lower figure.
Exports by Country
The Netherlands (178K tons) was the main destination for biodiesel exports from China, accounting for a 93% share of total exports. Moreover, biodiesel exports to the Netherlands exceeded the volume sent to the second major destination, Belgium (7.4K tons), more than tenfold.
From February 2022 to February 2023, the average monthly rate of growth in terms of volume to the Netherlands totaled +8.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Belgium (-5.7% per month) and Spain (-0.5% per month).
In value terms, the Netherlands ($237M) remains the key foreign market for biodiesel exports from China, comprising 92% of total exports. The second position in the ranking was held by Belgium ($13M), with a 5% share of total exports.
From February 2022 to February 2023, the average monthly growth rate of value to the Netherlands stood at +6.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Belgium (-5.0% per month) and Spain (-2.4% per month).
Export Prices by Country
In February 2023, the biodiesel price stood at $1,342 per ton (FOB, China), standing approximately at the previous month. In general, the export price recorded a slight decrease. The most prominent rate of growth was recorded in July 2022 an increase of 4.2% month-to-month. As a result, the export price attained the peak level of $1,866 per ton. From August 2022 to February 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In February 2023, the country with the highest price was Belgium ($1,729 per ton), while the average price for exports to Spain ($1,250 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+0.8%), while the prices for the other major destinations experienced a decline.
China's Biodiesel Exports Experience Significant Decline in February 2023 Amidst Increased Competition
China's biodiesel exports have plummeted in February 2023. This represents a significant decline from the previous month's figures, and industry experts suggest that several factors may be contributing to the decrease. One possible cause is increased competition from other countries that are also ramping up their biodiesel production. Another factor may be changes in government policies or regulations that have made it more difficult for Chinese producers to export their products.
This report provides an in-depth analysis of the biodiesel market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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