Guangdong Imported Edible Veg Oil, QTY Up & Price Down, in October 2017

According to Guangdong Customs statistics, from January to October 2017, Guangdong imported edible vegetable oil 1.128 million tons, up 6.5% year-on-year (YOY); worth 5.45 billion Yuan, up 21.8% YOY; average import price at 4833.1 Yuan per ton, up 14.3%. In October, Guangdong imported 198,000 tons, up 2.2 times YOY; worth 880 million Yuan, up 1.9 times YOY; average import price at 4428.2 Yuan/ton, down 9.4% YOY. Almost all the import was by ordinary trade.

Characteristics of Guangdong import of edible vegetable oil in October:

1.Monthly import quantity doubled and the average import

price dropped for the first time. Since this year, the import has increased monthly in fluctuation. In October alone, Guangdong imported 198,000 tons, up 2.2 times YOY, down 1% MOM. At the same time, the import average price ended continuous increase since last June, at 4428.2 Yuan per ton, down 9.4% YOY and down 3% MOM.

2. Ninety percent import from ASEAN, and a sharp increase from Indonesia. In October, Guangdong imported edible vegetable oil 193,000 tons from ASEAN, up 2.9 times, accounting for 97.4% of the total, and Indonesia contributed 119,000 tons, up 33.4 times; Malaysia contributed 74,000 tons, up 58.3%.

3. The main variety was palm oil. In October, Guangdong imported 193,000 tons of palm oil, up 2.9 times, accounting for 97.4% of the total import.