China has imported a record volume of meal since the beginning of 2022/23 MY

Agricultural By-products

Oil & Fats

China

Published Aug 28, 2023

Tridge summary

China has imported a record volume of oilseed meals, including a sharp increase in sunflower and palm kernel imports, while rapeseed meal imports have decreased. Additionally, China has seen an increase in the export of soybean meal, taking advantage of reduced supplies from Argentina. In July, China's export of soybean meal reached a three-year high, with significant shipments to Japan, South Korea, Vietnam, and the EU.

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Original content

According to Oil World (Germany), since the beginning of 2022/23 MY (October to July), China has imported a record volume of oilseed meals - 7.12 million tons, which is 1.3 million tons ahead of the corresponding period of 2021/22 MY. Experts note a sharp increase in sunflower imports - up to 2.67 million tons, and palm kernel meals - up to 1.14 million tons, while in the first 10 months of 2021/22 MY these figures were 1.69 million tons and 714 thousand tons, respectively. At the same time, imports of rapeseed meal decreased from 1.79 million tons in October-July of the previous season to 1.61 million tons in the indicated period of the current MY. At the same time, experts record an increase in the export of soybean meal from China, as local processors took advantage of the reduction in export supplies of this type of product from Argentina. So, in ...

Source: Oilworld