18/02/2011 (istockanalyst) - China's Ministry of Commerce (MOC) raised the estimates of soya oil, palm oil and rapeseed oil imports by 30,000 metric tons (tonnes), 86,300 tonnes and 26,900 tonnes respectively over its previous forecasts made in late January.

The following table shows edible oils imports delivered in January and the MOC's estimates on imports in February.

January (tonne) February (tonne) Soy oil 65,600 118,000 Palm oil 191,200 206,600 Rapeseed oil 38,100 36,900 Total 294,900 361,500

Compared with nearly 600,000 tonnes of monthly edible oil imports in the fourth quarter of last year, imports in January and February of 2011 are expected to drop sharply mainly due to adequate supply on domestic market, higher import prices as well as traditional off-season for palm oil consumption in winter.

The ministry also predicted that edible oils imports in March would slip further according to projected shipments in February.

However, as the weather is getting warmer, palm oil imports will pick up steadily. Furthermore, as palm oil is mainly imported from East Asia, its shorter shipment than soy oil and rapeseed oil imported from the U.S. and South America also increase uncertainties for the actual imports next month.

The estimate, published on the MOC's website, is based on reports from importers during the January 16-31 period. The MOC regularly releases its estimate twice a month, and its forecast is usually lower than the actual import figures as it does not include all cargoes.