China’s oilseed and vegetable oil imports are forecast to climb to a record in 2012-13, boosted by demand for soybeans and
palm oil
, according to Oil World.
The country’s oilseeds imports may rise to 65.3 million metric tons in the year through September 2013 from 63.1 million tons in 2011-12, and vegetable-oil and fat imports may climb to 10.8 million tons from 9.98 million tons, a industry researcher wrote in a report today.
China
’s soybean imports are forecast to advance to 62 million tons from 59.2 million tons.
“Consumption is likely to exceed combined domestic production and imports, thus resulting in a decline of Chinese soybean stocks,” Oil World said. “Replenishment of government granaries will be required in 2013 after as many as 3.9 million tons of soybeans were sold from state reserves in 2012.”
The country’s purchases of palm oil are predicted to rise to 6.65 million tons in 2012-13 from 5.95 million tons a year earlier, according to the researcher.
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