Sunflower oil imports to China hit three-year high

Published 2023년 11월 22일

Tridge summary

In October 2023, China's import of sunflower oil reached 92,500 tons, a significant increase compared to September and the same period last year. The main sources of imports are Russia, Ukraine, and Kazakhstan. Despite the high import volume, the domestic market has weak demand, leading to a high supply and a downward adjustment of prices expected in the short term.

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

Original content

In 2023, China's total sunflower oil import volume will increase significantly, but the downstream peak season is not favorable, demand is average, and the domestic market as a whole has a trend of high supply and weak demand. Let's look at the situation with imports in October, oilworld.ru reports with reference to China News. According to import statistics from the General Administration of Customs of China, domestic imports of virgin sunflower oil amounted to 92,500 tons in October 2023, valued at $88 million. The import volume increased by 18,900 tons compared with the month of September. - monthly growth of 25.60%; An increase of 37,000 tons compared to the same period last year. At this stage, the spot price of domestic sunflower oil is relatively stable: crude sunflower oil costs 8,250-8,400 yuan per ton (8,250 yuan = 101,496 rubles. note oilworld.ru), and first-grade sunflower oil costs 8,800-8,900 yuan per ton. a ton As of October 2023, China's total imports of virgin ...

Source: Oilworld