Import of edible vegetable oils plunges at south China port

The import of edible vegetable oils through Shenzhen, a boomtown facing Hong Kong, went down by 38.9 percent to 88,000 tons in the first quarter of the year, according to the local customs.

The imported edible vegetable oils were worth 150 million US dollars, a drop of 42.6 percent from a year earlier.

According to the customs, imported soybean oil made up 21,000 tons and dropped by 48.2 percent and rapeseed oil made up 30,000 tons and dropped by 33.4 percent, while palm oil jumped by 63.6 percent to 12,000 tons.

A customs officer attributed the changes in imported edible oil varieties, especially soybean oil, to the implementation of a set of new standards for imported soybean oil and new state standards of edible oils beginning Oct. 1, 2004.

Soybean which used to be imported in large quantities failed to produce as much oil as the new standards require. Last year's record output of 18 million tons of soybean and the falling soybean prices also attributed to the demand for imported soybean.