• 3 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 7 minutes Saudi and UAE pressure to get US support for Oil quotas is reportedly on..
  • 11 minutes China devalues currency to lower prices to address new tariffs. But doesn't help. Here is why. . . .
  • 15 minutes What is your current outlook as a day trader for WTI
  • 6 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents * Too late now
  • 2 hours 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 23 hours Long Range Attack On Saudi Oil Field Ends War On Yemen
  • 10 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 6 hours Will Uncle Sam Step Up and Cut Production
  • 11 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 3 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 3 hours With Global Warming Greenland is Prime Real Estate
  • 3 hours Sad . . . Only thing that moves oil price up is an attack on Tankers or Oil Facilities (Staged or real?)
  • 2 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 12 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 1 day Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 2 days Continental Resource's Hamm wants shale to cut production. . . He can't compete with peers.
  • 6 hours Get First Access To The Oilprice App!
  • 15 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House

China's Biodiesel Imports Rise 194.2%

refinery

China’s biodiesel imports increased in April 2019, as domestic demand moved up and the supply turned tight.

China imported 38,669.1 mt of biodiesel (HS Code: 38260000) in April 2019, a rise of 194.2% month on month, according to data released by the General Administration of Customs.

Chinese importers imported more biodiesel as international crude prices rose in April. In addition, diesel demand increased in several areas, where harvesting season created additional demand. Moreover, domestic producers recorded limited utilization rates, leading to tight biodiesel supply.

Biodiesel imports mainly came from Indonesia and Hong Kong, with 34,455.39 mt and 4,010.9 mt for each. Biodiesel imports from the two sources were exempted from consumption tax and 6.5% tariffs, saving almost CNY1,000 of costs for traders.

Meanwhile, China exported 68,555.68 mt of biodiesel (HS Code: 38260000) in April, a rise of 112.8% month on month, GAC data showed.

Crude prices fell at the end of May 2019, and as a result, oil traders might show limited interest in buying biodiesel due to limited blended diesel demand this month. However, there will be fair demand for biodiesel in the petrochemical industry. Hence, biodiesel imports are expected to inch up in May.

Going forward, international crude prices could remain subdued in June 2019. Meanwhile, the demand for biodiesel in crude blending might decline as overall diesel demand could slow due to rising temperatures. While the demand for chemical-use biodiesel is expected to remain stable. Hence, biodiesel imports might inch lower in June.

By JLC International

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play