Chinese Import of Oils and Fats Down in 2022

China’s import of vegetable oils and fats fell in calendar year 2022 with the highest drop recorded for soybean oil, data from Oil World show. An only growth was recorded in coconut oil during the period at 25.9% at 219,000 MT from 174,000 MT.
Import in 2022 was 9.091 million MT, declining by 30.1% from previous year at 13.015 million MT.  Palm oil was still the biggest import at 5.491 million MT but has dropped 17.2% from previous year at 6.633 million MT.  This was followed by rapeseed oil at 1.061 million MT, falling sharply by 50.7% from 2.154 million MT; sunflower oil at 605,000 MT, likewise down steeply by 52.8% from 1.283 million MT; palm kernel oil at 535,000 MT, recording 14.8% shortfall from 628,000 MT.
Soybean oil was the biggest loser with import contracting 69.3% at 344,000 MT from 1.120 million MT previously.  Other imports were, MT: castor oil 275,000 (-18.9% from 339,000), groundnut oil 231,000 (-17.8% from 281,000), tallow 45,000 (-55.0% from 100,000), others 285,000 (-5.9% from 303,000).