China to reduce palm oil imports in 2021-22 as it eyes vegoil self-reliance

New Delhi —
China is expected to lower its palm oil purchases in the 2021-22 marketing year, spanning October 2021-September 2022, as it looks to ramp up domestic edible oil production -- a move that can help reduce reliance on vegetable oil imports.
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China's Agriculture Outlook Committee, or CAOC, lowered its forecast for 2021-22 palm oil imports to 4.2 million mt from the 2020-21 estimate of 4.5 million mt, according to the Chinese Agricultural Supply and Demand Estimates, or CASDE, report released May 13.
This was contrary to a May 12 report by the US Department of Agriculture's Foreign Agricultural Service, which sees China's 2021-22 palm oil imports to grow to 7.2 million mt, up almost 6% from 2020-21 levels.

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