China: Data on the exports and imports of soybean oil in May

Published Jun 23, 2022

Tridge summary

In May 2022, China's soybean oil market saw significant fluctuations in import and export volumes and prices compared to the previous month and the year before. Import volume surged by 9.58% from April to 9,260 tons at an average price of $1,368.39 per ton, but a decrease of 92.87% from the same period last year. Russia, Japan, and the Netherlands were the main suppliers. On the other hand, export volume dropped by 39.91% from April to 7,890 tons at a higher average price of $1,721.28 per ton, showing a significant increase from the previous year. The main destinations for Chinese soybean oil were Malaysia, Hong Kong, and Singapore. The article highlights that China's total imports and exports of soybean oil remain modest, with decisions on volume being influenced by costs, profits, and domestic demand.

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

Original content

Import volume: According to China Customs data, domestic market in May 2022 was 9260 tons, import value was 12,672,018.00 USD, and the average import price was 1368.39 USD per ton. The volume of imports increased by 809.257 tons compared to 8451 tons in April this year, an increase of 9.58% compared to the previous month. The average import price decreased by $51 per ton compared to $1,419.39 per ton in April this year, representing a decrease of 3.59%. Compared to last year, this is a decrease of 120,788.456 tons, or 92.87%, from 130,049 tons. As of January-May 2022, imports of soybean oil amounted to 93,971 tons, which is 353,865.796 tons or 79.02% less than 447,837.485 tons for the same period last year. Main import source countries China imported soybean oil mainly from Russia, Japan and the Netherlands. Among them, the import volume of the Russian Federation amounted to 9253.464 tons, accounting for 99.92% of the import volume, Japan - 0.24 tons, which is a small share, and ...

Source: Oilworld