China imports more edible vegetable oil at higher cost
Monday, 28 July 2008
BEIJING, July 27 (Xinhua): China imported more edible vegetable oil at higher cost in the first five months of this year, as demand remained strong at home and prices were buoyed up by short supplies worldwide.
Between January and May, China imported 3.57 million tons of edible vegetable oil, a year-on-year incrase of 11.1 per cent. The arrivals were valued at 3.98 billion U.S. dollars, up 94.7 per cent, the General Administration of Customs said Friday.
The import price averaged 1,114 U.S. dollars per ton, up 75.2 per cent.
The total imports included 2.07 million tons of palm oil, up 23.4 per cent, and 1.13 million tons of soya-bean oil, up 7.7 per cent. The two combined to make up 89.6 per cent of the total.
Most of the edible vegetable oil imports came from ASEAN members, which accounted for 2.33 million tons, or 65.2 per cent, of the total.
Between January and May, China imported 3.57 million tons of edible vegetable oil, a year-on-year incrase of 11.1 per cent. The arrivals were valued at 3.98 billion U.S. dollars, up 94.7 per cent, the General Administration of Customs said Friday.
The import price averaged 1,114 U.S. dollars per ton, up 75.2 per cent.
The total imports included 2.07 million tons of palm oil, up 23.4 per cent, and 1.13 million tons of soya-bean oil, up 7.7 per cent. The two combined to make up 89.6 per cent of the total.
Most of the edible vegetable oil imports came from ASEAN members, which accounted for 2.33 million tons, or 65.2 per cent, of the total.