[Industry Alert]General Administration of Customs: The Import of Edible Vegetabl

According to the statistic from Customs, the import of edible vegetable oil in China is 8.163 million tons, down 2.6%, with the total value of 8.98 billion dollars, up 44%, and the ASEAN is the largest source of imports.

According to the statistic from Customs, the import of edible vegetable oil in China is 8.163 million tons in 2008, down 2.6% than it was last year, with the total value of 8.98 billion dollars, up 44%. The import average price is 1100 dollars per ton, up 47.8%. The import takes the following characters:

Ⅰ、the average price of import was high but fell later. The import price of edible vegetable oil in China increased from 9.625 million dollar per ton in January to 13.02 million dollar per ton in July. Since then, the import price fell dramatically. Until December, the import price fell to 6.744 million dollar per ton, down 48.2% than the highest average price in July.

Ⅱ、The general trading took a leading position. In 2008, China imported 6.181 million tons edible vegetable oil in ways of general trading, down 0.9%, taking up 75.7% in the total volume of imports.

Ⅲ、ASEAN was the largest source of imports after Argentina. In 2008, China imported 5.277 million tons edible vegetable oil from ASEAN, up 4.7%, taking up 64.6% in the total volume of imports. At the same time, China imported 1.726 million tons edible vegetable oil from Argentina, down 25.4%, and imported 689 thousand tons from Brazil, up 70.6%. Imports from Argentina and Brazil took up 29.6% in the total imports of edible vegetable oil in China.

Ⅳ、The main products for import were palm oil and bean oil. In 2008, China imported 4.647 million tons, up 5.9%, while China imported 2.586 million tons bean oil, down 8.4%. The import of palm oil and bean oil took up 88.6% in the total volume of import edible vegetable oil in China.

Ⅴ、The foreign-funded enterprises were the main forces for import, and the import by state-owned enterprise increased. In 2008, foreign-funded enterprises imported 3.94 million tons edible vegetable oil, down 12.8%, taking up 48.3% in the total volume of import edible vegetable oil. At the same time, state-owned enterprises imported 2.642 million tons edible vegetable oil, up 17.4% and private owned enterprises imported 1.289 million tons, down 3.2%.

Reasons for the decline of import price and volume of edible vegetable oil of China in 2008 are:

Ⅰ、Farmers strike in Argentina affected the production of bean oil. Argentina was the largest import market of bean oil for China. In 2007, China imported 2.248 million tons bean oil from Argentina, taking up 79.6% in the total volume of import bean oil in China. In March 2008, the farmer strike in Argentina break out and lasted to September this year, which made a bad influence on the production and output of bean oil and leaded to the import bean oil from Argentina reduce dramatically.

Ⅱ、The preferential policy for bean import extends, which makes a substitution of bean oil. The expiration of 1% interim duty was extended to September 30, 2008, which leaded to the import of bean oil felled but beans instead.

Ⅲ、The price of agricultural products in the international market fell. During the first half year of 2008, the price of agricultural product continuous went up in international market, which leaded the import price of edible vegetable oil by China went up accordingly.