Edible oil imports set for rebound

Big appetite for mooncakes set to revive demand for palm oil in China

China's appetite for palm oil imports is set to recover from a 25 percent slump in the first half as cheaper supplies and a major autumn festival boost edible oil demand.

China's palm oil purchases plunged to 1.87 million metric tons from January to June after El Nino-weather conditions squeezed supplies and drove prices to two-year highs. Buyers in China opted for soybean and sunflower oil, with soybean imports rising by about 3.4 million tons to 38.56 million tons, while sunflower oil imports surged 23 percent to 470,000 tons, according to Chinese customs data.