Cofeed News: imports of soybean oil in January were seen lower than imports in December 2017, and generally, January imports totaled 19,364.234 tonnes and all were non-GM soybean oil, but it was worth noticing that few importers preferred imported soybean oil for direct use in consideration of profits. In recent months, Chinese buyers had been found interested in imported soybeans for lucrative import margin, which sent operating rate to a exceedingly high level and boosted soybean oil output. Yet, soybean oil stocks were still considerable despite oils consumption in January for most oil mills at home preferred to use their own production, to illustrate, soybean oil stocks for commercial use plunged to around 1.5 Mln tonnes in late January.
According to customs data, January imports of soybean oil amounted to 19,364.234 tonnes from 32,527 tonnes in last December, falling 13,162.766 tonnes by 40.47%, and the imports also decreased by 45.89% from 35,786 tonnes year on year with a reduction of 16,421.766 tonnes.
Details for China’s imports of soybean oil in January: 11,394.69 tonnes from Russian Federation, 6,369.35 tonnes from Ukraine, 1,022.84 tonnes from Turkey, 77.314 tonnes from Vietnam, 39.444 tonnes from the United States, 219.64 tonnes from Israel, 127.736 tonnes from Malaysia, 109.94 tonnes from France, 3 tonnes from Italy and 0.28 tonnes from Greece.
Average prices for soybean oil in January settle at USD $861.68 per tonne, up USD $0.86 per tonne from last December’s USD $860.82 in 2017, while CIF price stays at 6,789 yuan/tonne, basically down 174 yuan/tonne compared with last December’s 6,963 yuan/tonne.
Monthly imports of soybean oil in 2018 ( tonnes）
|
Month
|
2017-2018
|
2016-2017
|
|
Qty. (t)
|
Y-o-Y (%)
|
Qty. (t)
|
Y-o-Y (%)
|
Jan.
|
19364.234
|
-45.89%
|
35,786
|
152.25%
|
M-o-M (%)
|
32,527
|
-40.47%
|
|
|
