< imports of vegetable oil increased more than > 50 times year-on-year in the first half of the year China imported a total of 133.908 million tons of rapeseed oil in the first half of this year, 56 times the same period last year. In the first half of the year, almost all domestic imports of rapeseed oil came from Canada, with 99.8 per cent of Canadian rapeseed oil imported. In the first half of the year, China's rapeseed oil imports were mainly concentrated in Guangdong and Jiangsu, of which Guangdong imported 628.42 million tons of rapeseed oil, accounting for 46.9% of all rapeseed oil imports, and Jiangsu imported rapeseed oil 487.48 million tons, accounting for 36.4% of all rapeseed oil imports. In the first half of the year, the average arrival price of rapeseed oil imported from China was US$742.1/tonne, an increase of 40.5% over the same period last year.first half of this year, vegetable oil exports decreased by more than 60% YoY China exported 183.43 million tons of rapeseed oil in the first half of this year, down 61.8% yoY. In the first half of the year, China's rapeseed oil exports were mainly concentrated in February, the month's exports of rapeseed oil 145.68 million tons, accounting for 79.4% of the total canola oil exports from January to June, in February, most of China's rapeseed oil exports to the European Union region. In addition, china also exported a small amount of rapeseed oil to Hong Kong, Japan and other Asian countries and regions in the first half of the year.second half of this year, vegetable oil imports continued to maintain a high level China has been a net importer of rapeseed oil, in 1997 and 2004 China's rapeseed oil imports reached 350,000 tons. However, in the last two years, the EU biodiesel production has increased rapidly, demand for rapeseed oil continues to be strong, the international market rapeseed oil prices remain high, so that last year China's rapeseed oil imports fell sharply to 44,000 tons. Domestic rapeseed oil prices surged in October last year and have remained at a high level, with a recovery in the amount of rapeseed oil imported from November to December last year. From January to April this year, the cost of imported rapeseed oil has been lower than the domestic rapeseed oil prices, manufacturers to purchase imported rapeseed oil enthusiasm is higher, resulting in the first half of rapeseed oil imports continue to increase. In addition, this year, China's rapeseed production significantly reduced, rapeseed acquisition costs significantly increased, domestic rapeseed oil supply decreased from last year, but also rapeseed oil imports continue to increase an important reason. It is expected that China's rapeseed oil imports will continue to maintain a high level in the second half of the year, and the annual rapeseed oil imports are expected to reach 250,000 tons.The second half of the year canola exports continue to maintain a low level In the second half of 2005, China began to export rapeseed oil to the European Union, in 2006 China's rapeseed oil exports reached 145,000 tons, a new high in recent years, but also made China last year to become a net exporter of rapeseed oil. After the domestic vegetable oil prices soared by more than 2000 yuan/ton in October last year, China's rapeseed oil exports lost market competitiveness, and after entering 2007, China's rapeseed oil exports decreased significantly. Since July 1, the country has cut the export tax rebate rate for rapeseed oil from 13% to 5%, which makes it more difficult for China's rapeseed oil exports. It is expected that In the second half of this year, China's vegetable oil exports will continue to maintain a low level, the annual rapeseed oil exports will be less than 40,000 tons.
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