Summary: In the period from Jan. to April of 2024, China's methionine import volume slipped by 17.28% YoY, while export volume climbed up by 130.87% YoY. The unit prices of both imports and exports of methionine rose steadily month by month in this period.

In the first four months of 2024, China imported 51,118.74 tonnes of methionine, a drop of 17.28% compared to the same period in 2023. The import volume of methionine in April dipped by 1.44% YoY to 14,138.23 tonnes, indicating a continued decline in China's dependence on imported methionine. From a MoM perspective, methionine import volumes have been increasing since Feb. 2024. The import volumes in March and April swelled by 49.48% and 13.49% MoM respectively.

In Jan.–April 2024, China exported 99,476.79 tonnes of methionine, a significant growth of 130.87% compared to the same period in 2023. In this period, March saw the highest export volume at 32,592.86 tonnes, a YoY increase of 147.69% and a MoM increase of 93.28%; April's export volume was the second highest at 25,852.12 tonnes, a YoY increase of 165.79%, though it decreased by 20.68% MoM. The substantial uplift in export volume was mainly attributed to Shandong NHU Amino Acid Co., Ltd.'s 150,000 t/a solid methionine production line, of which the capacity has been progressively put into use since the end of 2023.

The main destinations of China's methionine exports from Jan. to April 2024 were Germany (19,579.84 tonnes), Brazil (19,376.55 tonnes), and Russia (11,115.93 tonnes). Notably, methionine exports to Germany grew largely from March to April. In March, 6,332.16 tonnes were exported to Germany, a MoM uptick of 154.08%. In April, exports to Germany reached 7,001.78 tonnes, a MoM rise of 10.57%.

In April 2024, the average import price of methionine was USD2,338.17/t, up 13.03% YoY; while the average export price was USD2,314.45/t, up 15.83% YoY.

During the Jan. to April period, China's import and export prices of methionine both exhibited a steady uptrend on a monthly basis. The growth rate of import prices accelerated, with MoM increases of 0.18%, 2.48% and 5.70% from Feb. to April, respectively. In contrast, the growth rate of export prices slowed, with MoM increases of 2.67%, 2.16%, and 0.88% for the same months.