Palm oil, UCO imports slide in October: Eurostat

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20 December 2022, EU: Latest Eurostat data show used cooking oil (UCO) imports fell by just under 37pc on the month to 180,800t in October, but inched 3.5pc higher than October 2021 levels. The Netherlands and Spain took the majority of arrivals at 44pc and 35pc, respectively. The Netherlands imported from a range of countries, mainly Malaysia, Saudi Arabia, the US and China, but China provided nearly all UCO arrivals to Spain. Bulgaria picked up UCO buying, taking 13,800t from China in October, compared with 12,900t in September and a meagre 530t in October 2021.

In contrast, SBO arrivals to the bloc climbed on the month and the year by 66pc and 11pc, respectively. Around 66,600t of SBO was imported and mainly taken by Spain, Poland and Italy. Spain imported just over 21,000t in October of which 71pc came from Argentina and the rest from Egypt.

Spain imported next to no SBO, but purchased around 4pc more SBO than October 2021. Poland imported all 21,600t of SBO from Ukraine while Italy mainly imported 13,200t from Argentina.

Palm oil imports slipped by 9pc on the month in October to 477,000t but ticked higher by 0.5pc from October 2021. The Netherlands, Spain and Italy remain the blocs biggest importers taking 30pc, 23.7pc, and 23.6pc, respectively. Indonesia and Malaysia continue to dominate the supply market although The Netherlands also takes significant flows from Papua New Guinea, Guatemala, and Honduras.

The UK nearly tripled its palm oil imports in October 2022 compared with October 2021, according to preliminary Eurostat data. The country imported 36,000t of palm oil in October 2021, mostly from Papua New Guinea and Indonesia, up from 26,000t in September and 13,600t in October 2021. UCO imports softened on the month and the year by 10pc and 72pc, respectively and the US is their primary supplier

Also Read: Apples being transported through drones in Himachal’s Kinnaur valley

(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)

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