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China in July increased its imports of vegetable oils by more than 50%
According to Oil World analysts, in July this year, China imported 1.13 million tonnes of vegetable oils, which is 57 per cent higher than the same month a year earlier.
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In particular, during the reporting period, the Chinese market shipped a total of 644 thousand tonnes of palm oil against 374 thousand tons in July 2018, a Major supplier of product was Indonesia – 546 thousand tons.

In addition, the import of soybean oil in July 2019. reached the maximum monthly value over the last 2 years and was 132 thousand tons (July, 2018 – 37 thousand tonnes), of which 73 tons were delivered from Brazil, and 21 thousand tons – from Argentina and Russia.

At the same time, purchases of canola oil in the past month decreased from 167 thousand tons in July 2018 up to 152 thousand tons.

In just the first 7 months of 2019 China imported a record for the period of 6.56 million tons of vegetable oils, which is 39% higher than the result of January-July 2018 (4.7 million tons). From the specified volume of 3.92 million tonnes (+37% yoy) made up of palm oil, 392 thousand tonnes (+84%) - soy, 895 thousand tons (+23%) - canola.

 

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Translated by service "Yandex.Translation"
Источники: Зерно Он-Лайн