China’s imports of palm olein in October slipped by 2.6% on the month to 506,498 mt, data from the country’s General Administration of Customs (GACC) showed.
The drop comes following the end of stockpiling in preparation for the major festive holidays in end-September, though buying was relatively steady with prices remaining attractive.
The level was also 5.1% higher than October 2022, and brings total palm olein imports for the first ten months of 2023 to 3.58 million mt, 59.1% more than the same period a year ago.
Olein imports from Indonesia took the bulk of the volumes at 418,330 mt, though the level was 12.1% less than September.
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