According to customs data, VFY (H.S. code: 54033190) export of China rebounded notably by 38.15% month on month and 22.97% year on year to 11.792kt. In the first eleven months of 2025, the exports amount to 104.05kt, rising by 20.96% on yearly basis. The average export volume in Jan-Nov this year is 9,459 tons, which is 20.96% higher than 7,820 tons in the same period of 2024.

The export price of VFY in Nov slightly dipped by 0.3% m-o-m and 0.36% y-o-y to $5,173/mt. In the first eleven months of 2025, the average export price is $5,185/mt, which is 2.8% lower than $5,334/mt in the same period of 2024.

India, Pakistan and Turkey continue to take the leading positions in China's VFY export, accounting for 90% of total in Nov this year. As for origins, Henan, Jilin and Sichuan are still major origins, taking up 90% of the total volume.

Among the top five destinations, India saw a significant y-o-y growth of 50.5% in Nov this year, while Pakistan, Turkey, Bangladesh and Italy generally posted a reduction ranging from 10% to 45%. As for the major origins, the export from Sichuan and Hubei saw a decrease of 6.6% and 26.1% respectively, while that from Xinjiang saw a sharp increase from 30 tons in Nov of 2024 to 553 tons in the same period of this year.

China's VFY dependence on its two top consumer markets-India and Pakistan further increased in 2025. India remained the largest destination, with its consumption nearly three times that of Pakistan. In terms of price, there were mixed movements, which was also related to the corresponding specification differences. Among other major destinations, Turkey saw a relatively notable drop in trade volume, while other countries and regions mainly posted stable-to-mild declines.