December 31, 2007

China's soyoil import prices soar by 45 percent

Chinese imports of soyoil stood at 2.2 million tonnes, soaring by 80.9 percent, with average import price at US$727.6/tonne, up by 44.9 percent, according to the General Administration of Customs.

Meanwhile, the country imported 3.7 million tonnes of palm oil in the first ten months of the year, which rose by 6.7 percent on-year, accounting for 59.8 percent of China's total palm oil imports. The average import price is up by 60 percent.

Imports of rapeseed oil and mustard oil were 306,000 tonnes, increasing by 63.9 percent, with average import price at US$778/tonne, up by 35.2 percent.