Chinese Import of Lauric Oils Up in August

Data from Oil World show China imported 85,400 MT of lauric oils in August this year, sharply increasing by 35.8% from same period year-ago at 62,900 MT. Palm kernel oil remained the dominant lauric oil import amounting to 63,100 MT (73.9% share) while coconut oil was 22,300 MT (26.1%). Import of coconut oil during the month augmented by 81.3% same period year-ago total at 12,300 MT, while palm kernel oil moderately rose by 24.7% from 50,600 MT.

Indonesia remained the country’s major source of lauric oil contributing 81.3% with delivery of 69,400 MT (49,600 MT year-ago) which consisted of 52,300 MT (42,700 MT) of palm kernel oil and 17,100 MT (6,900 MT) of coconut oil. Malaysia was responsible for 12.6% with total amounting to 10,800 MT (8,000 MT) which was solely palm kernel oil. The Philippines contributed 3.5% or 3,000 MT (5,300 MT) of coconut oil only. Supply from other countries was solely coconut oil at 2,200 MT (100 MT).  

Total imports in January-August stood at 681,100 MT, an increase by 33.1% from 511,600 MT at the same time last year. Palm kernel oil was 555,000 MT (421,400 MT) and was mostly (82.2%) supplied by Indonesia at 456,400 MT (338,000 MT). Coconut oil was 126,100 MT (90,200 MT) and bulk of which at 78,000 MT (71,600 MT) representing 61.9% likewise came from Indonesia. The Philippines contributed 25.2% to total coconut oil import.