China expects to release palm oil import quota soon

Introduction: Kuala Lumpur, Jan 2 news: China is expected to release the first part of its 2002 palm oil import quota in January, with the volume likely to reach 1 million tons, traders said on Wednesday China is the main buyer of palm oil in the world, and it is expected to import 2.4 million tons of palm oil in 2002 after China's accession to the WTO, which is much higher than the import volume of 1.4 million tons last year A trader in Malaysia, who has trade with Chinese buyers, said China had approved the quota and believed it would issue the first batch by January 10 The quantity will be between 800000 tons and 1 million tons He added that in addition, before the Spring Festival, China will issue additional quotas, which could reach 500000 to 600000 tons Another trader, who has trade with China, said Beijing had approved quotas "The quota has been approved by the Chinese government and is expected to be distributed step by step," he said Some traders said China would be a key factor in whether Malaysia's future price of crude palm oil could challenge the high of rm1315 per ton set on August 8 last year The first trader said that many ships were sailing to Hong Kong before the quota was issued Lim Keng Yaik, Malaysia's minister of basic industry, said China would import more than 2.4 million tons of palm oil if Malaysia and Indonesia, the world's two largest palm oil producers, encouraged China Minister Lim said he expects China to release new quotas in early January China is the second largest buyer of palm oil in Malaysia after India, buying 1.02 million tons of palm oil in 2000, up from 800.135 tons in 1999 (author:) share to feed Weibo share to: