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Weekly Market Report | The supply of raw down jackets is hovering at a low level, and shipment prices remain high; the export of down jackets has ended its decline, and the peak season is about to begin.

2024-05-26 来源：金绒浏览量：1321

Summary

The overall market rose during the 21st week of 2024 (May 20th to May 26th).

Recently, the transaction volume of raw material down has increased, and it has also followed a wave of rising prices. At present, it seems that the supply of raw down is still hovering at a relatively low level, and as washing factories place more orders and stock up, their shipment prices remain high, and this is transmitted to downstream parallel imports and finished down.

Since the beginning of this year, exports from major clothing suppliers in Southeast Asia have generally declined, but after entering April, they began to expand the import of down filling materials. Overseas down jacket OEMs may enter the peak season of production and shipment in the second quarter, and future orders are expected to gradually pick up.

At the 2024 JPMorgan Global China Summit media briefing, Haibin Zhu, Chief Economist for Greater China, stated that China's strong economic performance in the first quarter of this year was primarily driven by production. This was partly due to strong export performance and partly related to the high growth in manufacturing investment supported by domestic policies.

Good news this week

Down clothing import and export statistics (April) - rapid growth

In April 2024, our country's total exports of down clothing were 856,000 pieces, an increase of 50% from March this year; the export value was 184 million yuan, an increase of 57% from March this year.

Down jacket export list in April 2024

商品名称	数量 (万件)	人民币 (亿元)	数量同比去年	金额同比去年
棉制男羽绒服	7.0	0.10	-93.0%	-91.8%
化纤制男羽绒服	34.9	0.77	-45.0%	-50.9%
棉制女羽绒服	4.0	0.08	-93.7%	-91.0%
化纤制女羽绒服	39.7	0.89	-55.8%	-56.9%

Export situation of men's down jackets in the past 14 months

Export situation of women's down jackets in the past 14 months

It can be seen from past data that the export of down jackets is in the traditional off-season. However, as the peak season in May approaches, the export of down jackets still shows signs of improvement. The export volume in April this year fell by 73% compared with the same period last year. However, last April was the April with the highest export volume in the past ten years.

Unfortunately, the overall export volume of down clothing in April this year was still at the bottom of mid-April, and the export volume was only better than in 2020. In addition, the export share of cotton down jackets this year is significantly lower than in previous years.

In terms of imports, in April 2024, a total of 145,000 pieces of down clothing were imported, an increase of 27% from the previous month; the import value was 191 million yuan, an increase of 141% from the previous month.

source | 金绒采编数据来自海关

"Down bedding" export statistics in April - improving steadily

Duvet：

From January to April 2024, a total of 4,207 tons (1.81 million pieces) of "down quilts" were exported, an increase of 1% year-on-year; the export value was 397 million yuan, a decrease of 7% year-on-year.

In April 2024, 1,913 tons (420,000 pieces) of "down quilts" were exported, a decrease of 9% compared with the same period last year; the export value was 93 million yuan, a decrease of 12% compared with the same period last year.

In April 2024, the United States continued to be my country's largest trading partner for "down quilt" exports, accounting for 37% of total exports this month, and the proportion remained stable. Among them, the export quantity was 337 tons (110,000 pieces), an increase of 18% year-on-year; the export value was 35 million yuan, an increase of 19% year-on-year.

Japan was the second largest trading partner during the month, accounting for 14% of total exports; followed by Germany at 9%, Australia and the United Kingdom each at 8%.

Other down bedding:

According to China Customs data, a total of 10,560 tons of "other down bedding" were exported from January to April 2024, a decrease of 8% compared with last year; the export value was 402 million yuan, a decrease of 19% compared with last year.

In April 2024, 2,887 tons of "other down bedding" were exported, a 10% decrease from last year; the export value was 105 million yuan, a 25% decrease from last year.

In April 2024, the United States was still my country's largest trading partner for exports of "other down bedding", accounting for 50% of total exports this month, a significant increase in its proportion. Among them, the export quantity was 1,458 tons, a decrease of 11% year-on-year; the export value was 48 million yuan, a decrease of 17% year-on-year.

The UK was the second largest trading partner during the month, accounting for 9% of total exports; followed by Germany at 7%, Australia, Canada, Japan and Denmark at 5%, 4%, 3% and 1% respectively.

Down bedding (quilt + other bedding)

From January to April 2024, my country exported a total of 14,768 tons of "down bedding", a decrease of 6% year-on-year; the export value was 799 million yuan, a decrease of 14% year-on-year.

From a year-on-year perspective, the export of "down bedding" from January to April this year is still in negative growth, and the growth rate has dropped again. However, from a month-on-month perspective, it has been increasing steadily in the past three months. Among them, the U.S. market, which accounts for the bulk of export volume, shows strong demand.

source | 金绒整理自海关数据

The market is very promising, and orders for "Northern Territory" down jackets far exceed expectations.

The northern down jacket that netizens are shouting about is now available. On May 19, Heilongjiang's local down jacket brand "Goose Commander" debuted its new product release fashion show at the 33rd Harbin Fair, and more than 60 of its latest down jackets were released.

Yang Bing, the Deputy County Head of Tangyuan County, stated that in recent years, Tangyuan has been leveraging its location in the golden breeding zone at 47°N latitude to develop its goose industry. This region produces goose down with high cold resistance, large down clusters, high down content, good loftiness, and excellent quality.

The local government has compiled the "Tangyuan County Goose Industry Development and Revitalization Action Plan (2024-2026)" and planned 11 goose industry projects with a total investment of 330 million yuan. In 2023, the scale of goose breeding will grow to 2.05 million, and it will be included in the province's white goose advantageous and characteristic industrial clusters in 2023.

After the first phase of the Long'e down clothing processing project of Commander Goose Garment Co., Ltd. was completed and put into production, the second phase of the project has been fully launched.This time, a high-standard down processing workshop and a domestic (international) quality inspection standard room were built to produce high-grade goose down with a national standard content of less than 95%.At the same time, a clothing creative design company was established, with the theme of "Northeast" and the design of the brand logo was stepped up.

Liu Jimin, chairman of Heilongjiang E Commander Clothing Co., Ltd., said that the brand quickly opened up the market after its launch. The company has set up production bases in Tangyuan, Suibin, Hegang, and Qiqihar. So far, the orders have exceeded 1.5 million pieces, far exceeding expectations.

With the Qiqihar Down Jacket Town and Hegang projects put into operation in September and employee training completed one after another, the company's production capacity in Heilongjiang will be further released. It is expected that the production capacity will reach 100,000 pieces by June, 300,000 pieces by September, and 1,200,000 pieces by the end of the year.Judging from the data, the international and domestic markets are very optimistic about the quality of Heilongjiang's down and down jacket brands. "

source | 龙头新闻·黑龙江日报

Heilongjiang Helong Down expects sales to increase by one-third this year

With good products, good market and good prospects, Heilongjiang Helong Down Co., Ltd., a foreign trade enterprise located in Duerbot Economic Development Zone, has started a "fighting mode". In the company's production workshop, workers are stepping up production to rush down orders from Jiangsu Province and South Korea.

It is understood that Heilongjiang Helong Down Co., Ltd. currently has an annual down processing capacity of 6,000 tons and can digest the feathers of more than 30 million geese. However, in order to improve quality and efficiency, the company plans to add a new slaughterhouse project this year to slaughter 2 million geese annually. The project is planned to start construction at the end of May and put into production in early October.

Ding Guangjue, general manager of Heilongjiang Helong Down Co., Ltd., said: "The slaughtering line we have installed is also to increase some of our raw materials, which can increase the production of some down, and can also drive some income for the farmers around us.For our geese Industry can still play a certain role in helping and promoting.”

source | 杜尔伯特融媒

Bad news this week

Down and feather export statistics from major provinces and cities in April 2024 - export volume fell

According to China Customs data, in April 2024, Zhejiang Province ranked first in the country in terms of export volume and export value of down and feathers.

In this month, Zhejiang Province exported 1,320 tons of down and feathers, a decrease of 12% year-on-year; the export value was 192 million yuan (RMB, the same below), an increase of 14% year-on-year.

In April 2024, Anhui Province ranked second in the country in terms of export volume and export value of down and feathers.

In that month, Anhui Province exported 1,028 tons of down and feathers, a decrease of 1% year-on-year; the export value was 159 million yuan, an increase of 56% year-on-year.

In April 2024, Jiangsu Province exported 378 tons of down and feathers, a decrease of 5% year-on-year; the export value was 73 million yuan, an increase of 32% year-on-year.

It can be seen from the above data that the top three provinces in terms of down and feather export volume in April all increased their export volume. Among them, Anhui Province has gradually increased its export volume for three consecutive months while its export volume is almost the same as last year.

In April 2024, Guangdong Province exported 145 tons of down and feathers, a decrease of 9% year-on-year; the export value was 22 million yuan, a decrease of 7% year-on-year.

In April 2024, Shandong Province exported 42 tons of down and feathers, an increase of 4% year-on-year; the export value was 12 million yuan, a decrease of 9% year-on-year.

source | 金绒采编数据来自海关

News situation

This week’s news is more positive than negative.

During the 20th week (5.13-5.19), the industry estimates that the number of duck seedlings has stabilized at an average of about 11.3 million birds per day, and will show a slow growth trend in the later period. The current number of hatchlings will correspond to a corresponding increase in the number of meat ducks sold in the future, which may lead to a slight increase in the supply of duck feathers.

In April this year, the foreign trade exports of down jackets and down bedding dropped sharply year-on-year, but there are still good signs. As the peak season in May approaches, down jacket exports have finally ended their six-month downward trend and are showing signs of rising. The export situation of bedding also reflects the strong demand in the US market.

Among all Aprils in the past ten years, the export volume of down and feathers in April this year ranked near the bottom, but the export volume in that month was at an upper-middle level. This also shows that this year's down and feather exports may not be as bad as imagined.

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