Chinese Import of Lauric Oils Down in June

Data from Oil World show China imported 63,400 MT of lauric oils in June this year, sharply down by 35.2% from same period year-ago at 97,800 MT. Palm kernel oil remained the dominant lauric oil import amounting to 51,900 MT (81.9% share) while coconut oil was 11,500 MT (18.1%). 

Indonesia remained the country’s major source of lauric oil contributing 89.4% with delivery of 56,700 MT (68,400 MT year-ago) which consisted of 47,800 MT (57,800 MT) of palm kernel oil and 8,900 MT (10,600 MT) of coconut oil. Malaysia was responsible for 5.5% with total amounting to 3,500 MT (26,000 MT) which was solely palm kernel oil. The Philippines contributed 2,400 MT (1,700 MT) of coconut oil only for a market share of 3.8%. Supply from other countries was 700 MT (1,600 MT) of which 500 (400 MT) was palm kernel oil and 200 MT (1,200 MT) was coconut oil.   

Total imports in January-June stood at 314,600 MT, a steep drop by 39.3% from 518,100 MT at the same time last year. Palm kernel oil was 240,000 MT (427,100 MT) and 70.8% was supplied by Indonesia at 169,900 MT (346,000 MT). Coconut oil was 74,600 MT (91,600 MT) and bulk of which at 46,600 MT (49,700 MT) representing 62.5% likewise came from Indonesia. The Philippines contributed 30.4% to total coconut oil.