Despite complex external challenges, China's refined cotton export market performed fairly well in 2025. Although the total export volume failed to hit a new record high or maintain high growth momentum, it still reached the second-highest level in history amid volatile domestic and external conditions.
Refined cotton (including special cotton linter pulp, the same hereinafter) recorded a cumulative export volume of 89,777.6 tons in 2025, down 14.95% year on year. While this represented a notable drop compared with 2024, it remained significantly higher than annual export volume before 2023, securing the second-highest historical level. In particular, exports exceeded 9kt in Aug, the highest monthly volume. Affected by trade frictions, exports fell below 6kt in Apr, the lowest monthly figure.
Export prices in 2025 followed a high-low-high pattern throughout the year. The average annual export price stood at around $1,549.58/mt, a year-on-year decrease of 1.16%. The monthly export price peaked in Sep at about $1,662.34/mt and hit a trough in Jul at $1,458.57/mt.
The export destinations were relatively diversified. In 2025, refined cotton was exported to 39 countries and regions, with the top five destinations accounting for 64.1% of total exports, indicating a still relatively concentrated market structure.
For many years, the Republic of Korea, Japan, the Netherlands and Thailand have ranked among the top four export markets. Kazakhstan emerged as a dark horse in 2024, securing the second place. In 2025, Brazil replaced Japan to enter the top four. Among them, the Republic of Korea maintained its leading position, with exports to the country reaching 28,249.8 tons in 2025, down 9.46% year on year and accounting for 31.47% of total exports. Exports to South Africa, the Democratic People's Republic of Korea and India saw substantial growth, rising by 79.21%, 181.37% and 320.48% respectively. Meanwhile, exports to Kazakhstan and Japan dropped sharply. Exports to Japan totaled 4,441.73 tons for the whole year, down 55.6% year on year.
Regarding the origins, Anhui and Shandong have maintained leading positions for years. Before 2024, Shandong ranked first in exports. However, exports from Shandong plummeted by 33.39% year on year in 2025, while exports from Anhui surged by 17.95%, overtaking Shandong to claim the top spot. The two provinces together accounted for 53.6% of total exports. In addition, exports from Jiangsu rose sharply by 26.03%, while those from Xinjiang fell drastically by 88.17%. The top four exporters-Anhui, Shandong, Hubei and Jiangsu collectively accounted for nearly 80% of total exports.
In summary, affected by fluctuations in the macroeconomic environment and domestic supply and demand dynamics, China's total refined cotton exports declined noticeably in 2025, yet still remained at the second-highest level in history. Exports to Finland, South Africa, the Democratic People's Republic of Korea and India recorded robust growth, while exports to Kazakhstan and Japan dropped significantly. Shandong had long been the leading exporter, but Anhui surpassed it in 2025 to become the largest exporter. Exports from Shandong and Xinjiang fell sharply, while those from Anhui and Jiangsu grew markedly. The top four provinces-Anhui, Shandong, Hubei and Jiangsu accounted for nearly 80% of total exports. Looking ahead to 2026, uncertainties may persist in the export market, but the overall situation is expected to remain stable and favorable.
