China broke the record for the purchase of olive crops by 15 million tons

Published Oct 1, 2023

Tridge summary

China has recorded high import numbers for vegetable oils, with olive crops reaching a record 110.2 million tons, soybeans accounting for 92% of imports, and olive oil imports increasing to 11.49 million tons. Palm oil dominates the import market, making up more than half of the imports at 6.15 million tons. The import volume of meal remained the same, but the country is expected to seek alternative options such as pine and palm oil meal due to changes in imports.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The same applies to the import of vegetable oils, according to GrainTrade based on data from the analytical agency OilWord. Thus, the import of olive crops to China showed record results - 110.2 million tons, equaling the previous 95.2 million tons. Moreover, 92% of imports in this region fall on soybeans. In addition to the products of processing of olive crops, the supply of olive oil showed significant growth - 11.49 million tons, compared with 7.13 million tons last season. More than half of imports (6.15 million tons) fall on palm oil. The import volume of meal remained unchanged ...

Source: AgroPortal.ua