China could import 500,000 tons more palm oil annually from Indonesia

In Indonesia, Reuters reports that China’s premier said his country is open to increasing the quota on imports of palm oil by 500,000 metric tons. Of the total 5 million tons of palm oil China consumed last year, 3.73 million tons came from Indonesia. With the EU looking to potentially ban palm oil for biodiesel post-2021, increased exports to China could help to offset the expected drop off in European demand. Indonesia is a preferred origin for China’s tropical products imports

Category: Fuels