Guangdong Imported Edible Veg Oil, QTY Down & Price Up, in Jan-Sept 2017

According to Guangdong Customs statistics, in the first three quarters of 2017, Guangdong Province imported edible vegetable oil 929,000 tons, down 6.7% year-on-year (YOY); worth 4.57 billion yuan, up 9.7% YOY; average import price at 4919.5 yuan per ton, up 17.5% YOY; almost all by ordinary trade.

Import Characteristics:

1. In September, Guangdong imported 200,000 tons, up 13.5% YOY and up 47.1% month-on-month; average import price was 4564.6 yuan per ton, up 3.9% YOY and down 4% month-on-month.

2. ASEAN as the main source. In the first three quarters, Guangdong imported 822,000 tons of edible vegetable oil from ASEAN, a decrease of 11.8%, accounting for 88.5% of the total; imported 548,000 tons from Indonesia, down 1.3%; 275,000 tons from Malaysia, down 27.3%; 50,000 tons from Brazil, up 2.5 times; 24,000 tons from Russia, up 70.3%.

3. Majoring in palm oil, doubled in soybean oil. In the first three quarters, imported palm oil reached 822,000 tons, down 11.8%, accounting for 88.5% of the total; imported soybean oil 70,000 tons, up 1.6 times, accounting for 7.5%.