March 12, 2010

China sees growing imports of oilseeds

China imported 4.27 million tonnes of oilseeds in January, up 32.2% from the same month of last year, according to data released by the Ministry of Agriculture.

The total value of oilseed imports amounted to US$2.02 billion in January, 57.3% more than a year ago. However, the value of oilseed exports increased 12.3% year on-year to US$115 million, with 90,000 tonnes of oilseeds exported.

The country imported 656,000 tonnes of edible vegetable oil during the month, surging 83.2% on-year. The value of edible vegetable oils imported totaled US$510 million, up 168.4% from a year ago. However, the export value of edible vegetable oil during the period fell 45% year on-year to 5,000 tonnes.

In January, the import and export value of China's farm produce jumped 51% from the same month of last year to US$9.23 billion, accounting for 4.5% of China's total import and export value in the month.