Palm Oil Market Roundup in China

By CnAgri2012-07-25 16:08:46 Print

China’s palm oil imports registered 2.63 million MT in January ~ June this year, an increase of 5.9% on the year-on-year basis. Palm oil stock at Chinese ports adds up to as much as 770,000 MT currently, resulting in a low price of RMB7,700/MT at Chinese ports, down 13% on the year-on-year basis.

World palm oil production is estimated to be 50.27 million MT in 2011/2012, an increase of 5% on the year-on-year basis. Palm oil production is predicted to be 27 million MT in Indonesia and 18.5 million MT in Malaysia in 2012/2013, exceeding the previous year by 6% and 1% respectively.

Considering the international soybean price hike, China may cut soybean imports but increase palm oil imports in the second half of this year.

From "China Oil and Oilseeds Market Weekly Report"