The market of non-genetically modified edible oil expands rapidly

China's non-genetically modified edible oil market is expanding rapidly, and its market share is relatively concentrated, coupled with the cost advantage brought about by the decline in international oil prices. Judging from the consumption trend, in terms of business promotion and consumer mentality in the next 2-3 years, this market will usher in a rapid blowout period.

This is what the reporter learned from the channel construction meeting of edible oil sellers in the Pearl River Delta, which just ended in Nanning, Guangxi. At present, China has a market of 26 million tons of edible oil, with small packages accounting for less than 20% and bulk oil accounting for more than 80%. This means that the market share of small packaging edible oil of Chinese brands can be further expanded, and the largest proportion of market growth of small packaging oil is non-genetically modified edible oil.

According to industry insiders, there are dozens of non-GM edible oils on the market, including corn oil, sunflower seed oil, phytosterol corn oil, peanut oil, rice oil, camellia seed oil, golden ratio blending oil, soybean oil, rapeseed oil, and so on. Chen Bo, general manager of a food marketing company, said that non-GM cooking oil entered the Chinese market as early as 1991, but it was not until 2005 to 2006 that it began to be recognized by the Chinese people. "non-GM cooking oil will usher in a blowout era in the next 1-2 years."

According to industry insiders, as the supply of non-GM soybeans in China mainly comes from overseas markets, the CIF prices of non-GM soybeans from Australia, Brazil, Argentina and other countries have continued to decline in recent years as international oil prices have fallen, thus freeing up more profit space for the domestic edible oil market.