China sets a new record for oilseed imports in the current marketing year

Oil & Fats

China

Market & Price Trends

Published Sep 30, 2023

Tridge summary

China has seen a significant increase in oilseed imports, particularly soybeans, with a record 110.2 million tons imported. Vegetable oil imports have also risen, with palm oil being the most imported type. However, the volume of meal imports has remained the same, but there has been a shift in the types of meal imported, with an increase in demand for sunflower and palm meal.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

China has increased oilseed imports by more than 15 million tons compared to the previous season, and the majority of these imports are soybeans. Imports of vegetable oils have also increased, with palm oil leading the way. The analytical agency OilWord (Germany) compared the indicators of import of oil crops and their processing in China for the current and last marketing year. According to the agency, imports of oilseeds recorded a record 110.2 million tons, up from 95.2 million tons the previous year. Moreover, 92% of imports in this industry are soybeans. As for processed oil products, the supply of vegetable oil showed a significant increase - 11.49 million tons compared to 7.13 million tons last season. More than half of imports (6.15 million tons) are palm oil. ...

Source: Oilworld