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BeSeen Briefing
Palm Oil Imported from Malaysia
On January 7, 2003, the Chinese government declared the import quota for crops and other agricultural products including wheat, rice and palm oil etc with the total amount of 26.3 million tons. In 2003, China will import 2.5 million tons of palm oil.
China is Malaysia¡¯s major importer, along with India Pakistan and the European Union. Malaysia is the largest producer of palm oil in the world. In 2001, the total output of palm oil was 11.8 million tons.
During January to October 2002, China imported 1.4 million tons of palm oil from Malaysia and as estimated, the total annual import will be 1.8 million tons
Fruit Exports Reduced in 2002
China is the largest fruit production country in the world. At present, the total output has exceeded 60 million tons, accounting for 14% of the total output in the world, and in China fruit is the third largest crop behind grain and vegetables.
According to the latest statistical data, China¡¯s export of fruits was only 160 thousand tons in 2002, 3% of the total export volume in the world and the price is only 40% and 25% of that of America and Japan, respectively. According to the Quarantine Department, China has a potential to export more than 1 million tons of fruit annually but only a small portion meets the international quality standards.
Edible Oil Price Going up in Anhui
Since August 2002, the price of rapeseed oil is continuously going up in Anhui and consequently, the price of edible oil is increasing, ending the low price period of 6 and half years.
Since 1996, the price of rapeseed oil has continuously dropped and by 2000, it had dropped 20%. During January to July 2002, the price dropped 3%. Since August, 2002, the price began to rise. In early December, the price increased 6.5 RMB per kg. In some place, the price increased 7 RMB/kg, or 30%.
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