Imports of soybean oil increased by 21.53% in the first 10 months compared with the same period last year.

Imports of soybean oil increased by 21.53% in the first 10 months compared with the same period last year.

According to the General Administration of Customs, China imported 95900 tons of soybean oil in October, down 3.82% from January to October, an increase of 21.53%. China imported 60700 tons of rapeseed oil in October, a decrease of 27.22% from January to October, a decrease of 696900 tons, a decrease of 48.16%. In October, China imported 305200 tons of palm oil, a decrease of 26.4 percent over the same period last year. From January to October, China imported a total of 4.2364 million tons, a decrease of 10.93 percent over the same period last year.

Port distribution price of imported soybeans stabilizes

Last week, the purchase and sales market and trend of Heilongjiang soybean market were still weak, the listing of new soybeans in the province was still slow, soybean prices remained low, oil factories and traders were cautious in purchasing, and the wait-and-see mentality remained unchanged. The purchase price of domestic soybeans is still stable and weak. There is still no breakthrough in the downstream demand of imported soybeans, although the cost price decreases with the CBOT futures price, but the domestic soybean meal and oil prices both decrease, which makes it difficult to maintain the processing profits of oil plants, the port soybean shipment is slow, the domestic market is stable, and the port distribution price of imported soybeans becomes stable.