Chinese Import of Lauric Oils Up in August

Data from Oil World show China imported 98,000 MT of lauric oils in August this year, an increase by 14.7% from same period year-ago at 85,400 MT.  Palm kernel oil remained the dominant lauric oil import amounting to 91,300 MT (93.2% share).  Coconut oil import was limited at 6,700 MT (6.8%).  Import of palm kernel oil during the month sharply increased by 44.7% from same period year-ago at 63,100 MT, while coconut oil substantially declined by 70.0% from 22,300 MT.

Indonesia remained the country’s major source of lauric oil contributing 73.0% with delivery of 71,500 MT (69,400 MT year-ago) which consisted of 69,300 MT (52,300 MT) of palm kernel oil and 2,200 MT (17,100 MT) of coconut oil. Malaysia was responsible for 22.4% with total amounting to 22,000 MT (10,800 MT) which was solely palm kernel oil. The Philippines contributed 4.5% or 4,400 MT (3,000 MT) of coconut oil only. Supply from other countries was solely coconut oil at 100 MT (2,200 MT).

Total imports in January-August stood at 510,900 MT dropped by 25% from 681,200 MT at the same time last year. Palm kernel oil was 409,300 MT (555,000 MT) and was mostly (74.3%) supplied by Indonesia at 304,100 MT (456,400 MT). Coconut oil was 101,600 MT (126,200 MT) and bulk of which at 64,000 MT (78,000 MT) representing 63.0% likewise came from Indonesia.  The Philippines contributed for 31.5% to total coconut oil, a much bigger share than prior year at 25.2%.