Research Report on China's Palm Oil Market
Since 1970s, China has no longer manufactured palm oil, and the domestic consumption all relied on importation. According to the information released by the State Administration of Grain, the annual consumption amount of vegetable oil per person has reached 14.2-14.6 kilos comparing with that of 2.2 kilos in the 1980s. This means that the domestic supply is far from enough to meet this huge demand and importation is needed to satisfy the demand.
The total amount of vegetable oil consumed in the year 2006 is as much as 20.5 million tons of which edible palm oil takes up 22% in the edible oil market with a consumption of about 4.51 million tons. As shown in the statistics by customs, the import quantity of palm oil was 4,320,000 tons in 2005, which increased sharply to 5,140,800 tons in 2006, 19% higher compared with the same time of the previous year. The total import value of palm oil in 2006 came to USD 2.297 billion, which was 29.16% higher compared with the same time of the previous year，accounting for 75.7% of the import quantity of edible oil, a new record of China imported palm oil quantity was set again. Malaysia and Indonesia are the two largest manufacturers and exporters of palm oil in the world, which have been also the main origins of China imported palm oil products. As far as import value is concerned, Malaysia has solid preponderance ranking the first with a sum of USD 1.551 billion in 2006, which was 27.68% over the previous year, accounting for about 67.53% of the total export sum of China imported palm oil; in 2006, China imported palm oil products from Indonesia with a sum of USD 0.713 billion, which was 27.45% more than the previous year, accounting for about 31.05% of the total import sum of China imported palm oil ranking the second. The import value from only Malaysia and Indonesia accounted for 98.58% of total China import sum. The imported palm oil products are sold as the mingling oil of food frying oil and small-packaged vegetable oil after refining and processing by domestic enterprises of processing edible vegetable oil.
According to the prediction of China Grain Reserves Corporation, the share of palm oil in domestic edible oil market will still keep increasing to 24% in 2007. If calculating in the way that the consumption of vegetable oil in China keeps an annual growth rate of 10%, the consumption of vegetable oil (including biological fuel) in China will be about 322,500,000 tons in 2007. If calculating with the proportion that the consumption of palm oil accounts 24% in that of vegetable oil, that is to say, the demand for palm oil is predicted to be 7,740,000 tons, which means a large consuming market for foreign palm oil manufacturers to fulfill.
As far as the consuming cycle is concerned, Chinese attach much importance to traditional festivals, therefore, festivals and holidays are the busy seasons of restaurant and food industries, the consumption of palm oil increases consequently. Especially the forth and first seasons including New Year’s Day and spring festival are the peak period of palm oil consumption.
As far as the main consumers are concerned, urban residents are also the main consuming group. Refined palm oil is main used to be mingled in concocted oil, salad oil and other small-packaged edible oils in China edible oil processing industry. Currently, China urban residents mainly consume small-packaged refined oil, while residents in countryside mainly consume refined oil and second-class oil. In view of the disparity in purchase power, the number of urban residents consuming in restaurant is obviously more than that of residents in countryside, therefore, the latent proportion of palm oil consumption in restaurant industry is grown.
As far as the consuming trend is concerned, the consuming demand of edible vegetable oil entirely tends to be diversified, subdivided and high-qualified. As shown in the information from State Grain Ministry, although currently the small-packaged oil which represent safety, health and nutrition only accounts for about 15% of total edible oil consumption, it is increasing sharply at a high annual speed of two digits as urban residents’ demand for safety, health and nutrition grows and China carries out the project of “Reliable Grains & Oils Entry into Country”. Especially speaking in the aspect of varied subdivided products of palm oil, as the extracting and processing capacity of palm oil keeps improving, and demand for loose oil, small-packaged edible oil increases stably, the traditional single situation that the refined palm oil with the melting point of 24℃ accounts for a large market share has been changed, and the refined palm oil with low melting point becomes more and more popular in the market with a continuously increasing consumption. Because on the one hand, refined palm oils with low melting point including color-off one flow into the restaurant industry instead of refined bean oil for their low price; on the other hand, China has not established and implemented related standard of concocted oil, which stabilizes the demand for mingling refined palm oil into concocted oil products.
The total amount of vegetable oil consumed in the year 2006 is as much as 20.5 million tons of which edible palm oil takes up 22% in the edible oil market with a consumption of about 4.51 million tons. As shown in the statistics by customs, the import quantity of palm oil was 4,320,000 tons in 2005, which increased sharply to 5,140,800 tons in 2006, 19% higher compared with the same time of the previous year. The total import value of palm oil in 2006 came to USD 2.297 billion, which was 29.16% higher compared with the same time of the previous year，accounting for 75.7% of the import quantity of edible oil, a new record of China imported palm oil quantity was set again. Malaysia and Indonesia are the two largest manufacturers and exporters of palm oil in the world, which have been also the main origins of China imported palm oil products. As far as import value is concerned, Malaysia has solid preponderance ranking the first with a sum of USD 1.551 billion in 2006, which was 27.68% over the previous year, accounting for about 67.53% of the total export sum of China imported palm oil; in 2006, China imported palm oil products from Indonesia with a sum of USD 0.713 billion, which was 27.45% more than the previous year, accounting for about 31.05% of the total import sum of China imported palm oil ranking the second. The import value from only Malaysia and Indonesia accounted for 98.58% of total China import sum. The imported palm oil products are sold as the mingling oil of food frying oil and small-packaged vegetable oil after refining and processing by domestic enterprises of processing edible vegetable oil.
According to the prediction of China Grain Reserves Corporation, the share of palm oil in domestic edible oil market will still keep increasing to 24% in 2007. If calculating in the way that the consumption of vegetable oil in China keeps an annual growth rate of 10%, the consumption of vegetable oil (including biological fuel) in China will be about 322,500,000 tons in 2007. If calculating with the proportion that the consumption of palm oil accounts 24% in that of vegetable oil, that is to say, the demand for palm oil is predicted to be 7,740,000 tons, which means a large consuming market for foreign palm oil manufacturers to fulfill.
As far as the consuming cycle is concerned, Chinese attach much importance to traditional festivals, therefore, festivals and holidays are the busy seasons of restaurant and food industries, the consumption of palm oil increases consequently. Especially the forth and first seasons including New Year’s Day and spring festival are the peak period of palm oil consumption.
As far as the main consumers are concerned, urban residents are also the main consuming group. Refined palm oil is main used to be mingled in concocted oil, salad oil and other small-packaged edible oils in China edible oil processing industry. Currently, China urban residents mainly consume small-packaged refined oil, while residents in countryside mainly consume refined oil and second-class oil. In view of the disparity in purchase power, the number of urban residents consuming in restaurant is obviously more than that of residents in countryside, therefore, the latent proportion of palm oil consumption in restaurant industry is grown.
As far as the consuming trend is concerned, the consuming demand of edible vegetable oil entirely tends to be diversified, subdivided and high-qualified. As shown in the information from State Grain Ministry, although currently the small-packaged oil which represent safety, health and nutrition only accounts for about 15% of total edible oil consumption, it is increasing sharply at a high annual speed of two digits as urban residents’ demand for safety, health and nutrition grows and China carries out the project of “Reliable Grains & Oils Entry into Country”. Especially speaking in the aspect of varied subdivided products of palm oil, as the extracting and processing capacity of palm oil keeps improving, and demand for loose oil, small-packaged edible oil increases stably, the traditional single situation that the refined palm oil with the melting point of 24℃ accounts for a large market share has been changed, and the refined palm oil with low melting point becomes more and more popular in the market with a continuously increasing consumption. Because on the one hand, refined palm oils with low melting point including color-off one flow into the restaurant industry instead of refined bean oil for their low price; on the other hand, China has not established and implemented related standard of concocted oil, which stabilizes the demand for mingling refined palm oil into concocted oil products.
CHAPTER 1 PRODUCT DEFINITION
1.1 Product definition
1.2 Product classification
1.3 Related products
CHAPTER 2 OVERVIEW OF CHINA PALM OIL MARKET
2.1 Introduction to current domestic macroeconomic environment
2.2 Situation of domestic palm oil industry development in 2006
2.3 Prediction on the increasing potential of domestic palm oil market in the future
CHAPTER 3 INTRODUCTION TO DOMESTIC INDUSTRIAL ENVIRONMENT
3.1 Related industrial policy
3.2 Related laws and regulations
3.3 Foreign cooperative agreement
3.3.1 Agreement on trade in goods of China-Asean trade area
3.3.2 Agreement on China-Indonesia strategic partnership
3.4 Prediction on policy trend
CHAPTER 4 OVERVIEW OF THE IMPORT SITUATION OF PALM OIL PRODUCTS
CHAPTER 5 ANALYSIS ON MAIN ORIGINS AND DOMESTIC FLOW DESTINATION OF CHINA IMPORTED PALM OIL PRODUCTS
5.1 Main origins of China imported palm oil products
5.2 Main domestic flow direction of China imported palm oil products
CHAPTER 6 ANALYSIS ON THE EXPORT SITUATION OF CHINA PALM OIL PRODUCTS IN THE PAST YEARS
6.1 Changes in China exported palm oil products in the pasts years and its reason
6.2 Main destinations of China exported palm oil products
6.3 Main origins of China exported palm oil products
CHAPTER 7 TAX BURDEN STATUS
7.1 Import tariff
7.2 Value-added tax
7.3 Consumption tax
CHAPTER 8 INSPECTION AND QUARANTINE AND STANDARD SYSTEM
8.1 Inspection and quarantine procedure of imported palm oil products
8.2 Main test standards and indexes
8.2.1 Hygienic standard for edible vegetable oil
8.2.2 General standard for the labeling of prepackaged foods
8.3 Standards concerned for palm oil products
8.4 Main supervisory organization
CHAPTER 9 FLOW FOR IMPORTING PALM OIL PRODUCTS INTO CHINA
9.1 Flow figure for importing palm oil products into China
9.2 Flow specification for importing the palm oil products into China
CHAPTER 10 COMPETITIVE SITUATION IN DOMESTIC PALM OIL MARKET
10.1 Analysis on the concentration ratio of sales income of enterprises
10.2 Analysis on the concentration ratio of sales by regions
10.3 Status of imported palm oil products in domestic market
10.4 Introductions to the top ten enterprises of China edible vegetable oil industry by sales
10.4.1 Jiali Cereal And Oil Trade (Shenzhen) CO., LTD.
10.4.2 East Sea Grain And Oil Industrial (Zhangjiagang) CO., LTD.
10.4.3 Heilongjiang 93 Oil CO., LTD.
10.4.4 Yihai Grain And Oil Industrial (Lianyungang) CO., LTD.
10.4.5 Qinhuangdao Golden Grain And Oil Industrial CO., LTD.
10.4.6 Fuhong Group CO., LTD.
10.4.7 Sanhe Hope Full Grain Oil Group Feed &Protein CO., LTD.
10.4.8 Great Sea Grain And Oil Industrial (Fangchenggang) CO., LTD.
10.4.9 Shandong Luhua Group Corp.
10.4.10 Shandong Bohai Sea Oil Industrial CO., LTD.
10.5 Distribution map of large-scaled oil processing corporations in China
CHAPTER 11 ANALYSIS ON SALE CHANNELS IN CHINESE MARKET
11.1 Main sale channels of palm oil products
11.2 Graph of domestic sale channels of palm oil products
11.3 Analysis on domestic sale channels of palm oil products
CHAPTER 12 ANALYSIS ON ENTRY INTO CHINA MARKET
12.1 Analysis on the characteristics of the consumers of palm oil products in China
12.2 Analysis on the opportunity of entering into China market
12.3 Analysis on barriers against the entry into China market
12.4 Main conclusion and suggestions
CHAPTER 13 LIST OF IMPORTER AND DISTRIBUTOR
CHAPTER 14 ASSOCIATION CONCERNED OF CHINA PALM OIL INDUSTRY
14.1 China National Association Of Grain Sector
14.2 China Vege Table Oil Association
14.3 Grain Industry Association Of China Council For The Promotion Of International Trade
CHAPTER 15 MAIN EXHIBITIONS IN 2007
15.1 2007 China International Edible Oil Industry Expo.
15.2 The 4th China-Asean Expo (CAEXPO)
15.3 2007 Shenzhen International Food Trade Expo.
15.4 2007 China (Zhengzhou) International Fine Products Of Grain & Oil And Equipment Exhibition
15.5 The 7th China Fine Products Of Grain & Oil Trade Fair
REFERENCE
GRAPH CONTENT
Graph 1 Change in the Import Value of China Imported Palm Oil Products in 2002-2006 (Unit: USD)
Graph 2 Change in the Import Quantity of China Imported Palm Oil Products in 2002-2006 (Unit: kg)
Graph 3 Top 10 Origins of China Imported Palm Oil Products (by import value)
Graph 4 Trend of Main Origins of China Imported Palm Oil Products in the Past Years (Unit: USD, %)
Graph 5 Top 10 Origins of China Imported Palm Oil Products (By Import Quantity)
Graph 6 Trend of Main Origins of China Imported Palm Oil Products in the Past Years (Unit: kg, %)
Graph 7 Top 10 Regions of Domestic by Imported Palm Oil Products Quantity in 2006
Graph 8 Trend of Import Quantity of the Main Area of Domestic by Imported Palm Oil Products in the Past Years (Unit: kg, %)
Graph 9 Change in Amount And Quantity of China Exported Palm Oil Products in 2002-2006
Graph 10 Rank of Destinations of China Exported Palm Oil Products (by export quantity)
Graph 11 Main Origins of China Exported Palm Oil Products in 2006 (by export quantity, value)
Graph 12 Flow Figure For Importing Palm Oil Products Into China
Graph 13 Proportion of the Sales of Ten Major Enterprises in That of the Large-Scaled Enterprises
Graph 14 Proportion of the Sales of the Top Ten Regions in That of the Large-Scaled Enterprises
Graph 15 Distribution Map of Large-Scaled Oil Processing Corporations in China
Graph 16 Graph of Domestic Sale Channels of Palm Oil Products
TABLE CONTENT
Table 1 Categories of Palm Oil Products
Table 2 Categories of Related Products
Table 3 Import Value And Growth Rate of Imported Palm Oil Products in 2002-2006 (Unit: USD)
Table 4 Import Quantity And Growth Rate of Imported Palm Oil Products in 2002-2006 (Unit: kg)
Table 5 Top 10 Origins of China Imported Palm Oil in 2006 And Growth in the Past Years (by import sum, Unit: USD)
Table 6 Top 10 Origins of China Imported Palm Oil in 2006 And Growth in the Past Years (by import quantity, unit: kg)
Table 7 Top 10 Regions With the Most Import Sum of Palm Oil Products in 2006 And Import Sum & Growth Rate in the Past Years (Unit: USD)
Table 8 Top 10 Regions With the Most Import Quantity of Palm Oil Products And Import Sum & Growth Rate in the Past Years (Unit: kg)
Table 9 Export Value And Growth Rate of Palm Oil Products in 2002-2006 (Unit: USD)
Table 10 Export Quantity And Growth Rate of Palm Oil Products in 2002-2006 (Unit: kg)
Table 11 Rank of Main Destinations of China Exported Palm Oil Products in 2006 (by export value)
Table 12 Rank of Main Origins of China Exported Palm Oil Products in 2006 (by export quantity)
Table 13 Import Duty Rate of Palm Oil Products
Table 14 Physical And Chemical Indexes of Edible Palm Oil
Table 15 Net Weight Standard Concerned For the Labeling of Prepackaged Palm Oil Products
Table 16 State-Forced Standards Concerned For Palm Oil Products
Table 17 Standards Concerned For Palm Oil Products
Table 18 Profit, Growth Rate, Sales Income And Domestic Share of the Regions in China in 2006 (Unit: RMB thousand yuan)
Table 19 List of the Number of Large-Scaled Oil Processing Corporations in China in 2006
1.1 Product definition
1.2 Product classification
1.3 Related products
CHAPTER 2 OVERVIEW OF CHINA PALM OIL MARKET
2.1 Introduction to current domestic macroeconomic environment
2.2 Situation of domestic palm oil industry development in 2006
2.3 Prediction on the increasing potential of domestic palm oil market in the future
CHAPTER 3 INTRODUCTION TO DOMESTIC INDUSTRIAL ENVIRONMENT
3.1 Related industrial policy
3.2 Related laws and regulations
3.3 Foreign cooperative agreement
3.3.1 Agreement on trade in goods of China-Asean trade area
3.3.2 Agreement on China-Indonesia strategic partnership
3.4 Prediction on policy trend
CHAPTER 4 OVERVIEW OF THE IMPORT SITUATION OF PALM OIL PRODUCTS
CHAPTER 5 ANALYSIS ON MAIN ORIGINS AND DOMESTIC FLOW DESTINATION OF CHINA IMPORTED PALM OIL PRODUCTS
5.1 Main origins of China imported palm oil products
5.2 Main domestic flow direction of China imported palm oil products
CHAPTER 6 ANALYSIS ON THE EXPORT SITUATION OF CHINA PALM OIL PRODUCTS IN THE PAST YEARS
6.1 Changes in China exported palm oil products in the pasts years and its reason
6.2 Main destinations of China exported palm oil products
6.3 Main origins of China exported palm oil products
CHAPTER 7 TAX BURDEN STATUS
7.1 Import tariff
7.2 Value-added tax
7.3 Consumption tax
CHAPTER 8 INSPECTION AND QUARANTINE AND STANDARD SYSTEM
8.1 Inspection and quarantine procedure of imported palm oil products
8.2 Main test standards and indexes
8.2.1 Hygienic standard for edible vegetable oil
8.2.2 General standard for the labeling of prepackaged foods
8.3 Standards concerned for palm oil products
8.4 Main supervisory organization
CHAPTER 9 FLOW FOR IMPORTING PALM OIL PRODUCTS INTO CHINA
9.1 Flow figure for importing palm oil products into China
9.2 Flow specification for importing the palm oil products into China
CHAPTER 10 COMPETITIVE SITUATION IN DOMESTIC PALM OIL MARKET
10.1 Analysis on the concentration ratio of sales income of enterprises
10.2 Analysis on the concentration ratio of sales by regions
10.3 Status of imported palm oil products in domestic market
10.4 Introductions to the top ten enterprises of China edible vegetable oil industry by sales
10.4.1 Jiali Cereal And Oil Trade (Shenzhen) CO., LTD.
10.4.2 East Sea Grain And Oil Industrial (Zhangjiagang) CO., LTD.
10.4.3 Heilongjiang 93 Oil CO., LTD.
10.4.4 Yihai Grain And Oil Industrial (Lianyungang) CO., LTD.
10.4.5 Qinhuangdao Golden Grain And Oil Industrial CO., LTD.
10.4.6 Fuhong Group CO., LTD.
10.4.7 Sanhe Hope Full Grain Oil Group Feed &Protein CO., LTD.
10.4.8 Great Sea Grain And Oil Industrial (Fangchenggang) CO., LTD.
10.4.9 Shandong Luhua Group Corp.
10.4.10 Shandong Bohai Sea Oil Industrial CO., LTD.
10.5 Distribution map of large-scaled oil processing corporations in China
CHAPTER 11 ANALYSIS ON SALE CHANNELS IN CHINESE MARKET
11.1 Main sale channels of palm oil products
11.2 Graph of domestic sale channels of palm oil products
11.3 Analysis on domestic sale channels of palm oil products
CHAPTER 12 ANALYSIS ON ENTRY INTO CHINA MARKET
12.1 Analysis on the characteristics of the consumers of palm oil products in China
12.2 Analysis on the opportunity of entering into China market
12.3 Analysis on barriers against the entry into China market
12.4 Main conclusion and suggestions
CHAPTER 13 LIST OF IMPORTER AND DISTRIBUTOR
CHAPTER 14 ASSOCIATION CONCERNED OF CHINA PALM OIL INDUSTRY
14.1 China National Association Of Grain Sector
14.2 China Vege Table Oil Association
14.3 Grain Industry Association Of China Council For The Promotion Of International Trade
CHAPTER 15 MAIN EXHIBITIONS IN 2007
15.1 2007 China International Edible Oil Industry Expo.
15.2 The 4th China-Asean Expo (CAEXPO)
15.3 2007 Shenzhen International Food Trade Expo.
15.4 2007 China (Zhengzhou) International Fine Products Of Grain & Oil And Equipment Exhibition
15.5 The 7th China Fine Products Of Grain & Oil Trade Fair
REFERENCE
GRAPH CONTENT
Graph 1 Change in the Import Value of China Imported Palm Oil Products in 2002-2006 (Unit: USD)
Graph 2 Change in the Import Quantity of China Imported Palm Oil Products in 2002-2006 (Unit: kg)
Graph 3 Top 10 Origins of China Imported Palm Oil Products (by import value)
Graph 4 Trend of Main Origins of China Imported Palm Oil Products in the Past Years (Unit: USD, %)
Graph 5 Top 10 Origins of China Imported Palm Oil Products (By Import Quantity)
Graph 6 Trend of Main Origins of China Imported Palm Oil Products in the Past Years (Unit: kg, %)
Graph 7 Top 10 Regions of Domestic by Imported Palm Oil Products Quantity in 2006
Graph 8 Trend of Import Quantity of the Main Area of Domestic by Imported Palm Oil Products in the Past Years (Unit: kg, %)
Graph 9 Change in Amount And Quantity of China Exported Palm Oil Products in 2002-2006
Graph 10 Rank of Destinations of China Exported Palm Oil Products (by export quantity)
Graph 11 Main Origins of China Exported Palm Oil Products in 2006 (by export quantity, value)
Graph 12 Flow Figure For Importing Palm Oil Products Into China
Graph 13 Proportion of the Sales of Ten Major Enterprises in That of the Large-Scaled Enterprises
Graph 14 Proportion of the Sales of the Top Ten Regions in That of the Large-Scaled Enterprises
Graph 15 Distribution Map of Large-Scaled Oil Processing Corporations in China
Graph 16 Graph of Domestic Sale Channels of Palm Oil Products
TABLE CONTENT
Table 1 Categories of Palm Oil Products
Table 2 Categories of Related Products
Table 3 Import Value And Growth Rate of Imported Palm Oil Products in 2002-2006 (Unit: USD)
Table 4 Import Quantity And Growth Rate of Imported Palm Oil Products in 2002-2006 (Unit: kg)
Table 5 Top 10 Origins of China Imported Palm Oil in 2006 And Growth in the Past Years (by import sum, Unit: USD)
Table 6 Top 10 Origins of China Imported Palm Oil in 2006 And Growth in the Past Years (by import quantity, unit: kg)
Table 7 Top 10 Regions With the Most Import Sum of Palm Oil Products in 2006 And Import Sum & Growth Rate in the Past Years (Unit: USD)
Table 8 Top 10 Regions With the Most Import Quantity of Palm Oil Products And Import Sum & Growth Rate in the Past Years (Unit: kg)
Table 9 Export Value And Growth Rate of Palm Oil Products in 2002-2006 (Unit: USD)
Table 10 Export Quantity And Growth Rate of Palm Oil Products in 2002-2006 (Unit: kg)
Table 11 Rank of Main Destinations of China Exported Palm Oil Products in 2006 (by export value)
Table 12 Rank of Main Origins of China Exported Palm Oil Products in 2006 (by export quantity)
Table 13 Import Duty Rate of Palm Oil Products
Table 14 Physical And Chemical Indexes of Edible Palm Oil
Table 15 Net Weight Standard Concerned For the Labeling of Prepackaged Palm Oil Products
Table 16 State-Forced Standards Concerned For Palm Oil Products
Table 17 Standards Concerned For Palm Oil Products
Table 18 Profit, Growth Rate, Sales Income And Domestic Share of the Regions in China in 2006 (Unit: RMB thousand yuan)
Table 19 List of the Number of Large-Scaled Oil Processing Corporations in China in 2006
