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Follow on Google News | China's Edible Oil Import MarketRead Full Report Here: https://industryresearchplace.com/ The production of edible vegetable oil in China declined from 59.318 million tons in 2016 to 46.254 million tons in 2019 in successive years, and the production rebounded to 49.18 million tons in 2020, with a CAGR of -4.58%. According to CRI's analysis, edible vegetable oil in China is mainly used in food processing industry, food service industry and other industries closely related to the residents' diet, and the consumer groups are mainly individual (household) consumers, food processors and caterers, but different types of edible vegetable oil also have different consumer groups. China's apparent consumption of edible vegetable oil witnessed a continuous decline from 2016 to 2018, before the apparent demand for edible vegetable oil had shown a modest growth since 2018. In terms of market segments, consumption in rapeseed and soybean oil is larger and maintains an overall growth trend. In 2020, China's consumption in peanut, rapeseed and soybean oil was 3.175 million tons, 15.130 million tons, and 18.596 million tons respectively. China's domestic edible vegetable oil production cannot fully address the demand for the domestic market. Therefore, Chinese companies will meet the market need by importing edible vegetable oil. China's edible vegetable oil import volume continued to rise from 5.54 million tons in 2016 to 9.834 million tons in 2020, with a CAGR of 15.43%. In 2021, from January to August, China imported 8.217 million tons of edible vegetable oil, up 14.4% YOY, and the import value was USD 8.09 billion, up 54.2% YOY. CRI expects that China will continue to import large quantities of edible oil each year from 2022 to 2030. Read Free Sample Report Online Here: https://industryresearchplace.com/ Email us at sales@industryresearchplace.com Call : +1 408 8786876|+44 20 32900699 End
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