Being closely related to national economy and people's livelihood, edible oil industry is enjoying a boom along with the establishment and improvement of Chinese market economy as well as the opening of grain and oil market. Besides, the traditional bulk edible oil is being gradually replaced by refined packed edible oil due to the change in consumer habits. Particularly, the small-package edible oil is playing the leading role in some developed megalopolis. Chinese edible oil consumption has experienced a rapid growth; as a result, capitals both at home and abroad are surging into China oil industry.
The rapid growth and huge profit created some famous edible oil brands such as JinLongyu, Hujihua, Fulinmen and Luhua and industrial giants including Kerry and COFCO, which have shared most of the domestic markets. Brand competition appeared in Chinese edible oil consumption, and it has become increasingly fierce and even will last quite a long time.
In 2005, the domestic supply of oils & fats totaled at 20.65 million tons, among which the output of domestic pressed oils & fats amounted to 14.12 million tons and the import volume reached 6.53 million tons; the total domestic consumption in oils & fats was 20.53 million tons, among which the edible oil consumption was 18.38 million tons with 14 kg per capita; the industrial and other consumption was 2.05 million tons with yearly surplus of 1.25 million tons.
The year of 2005 was the last year for import quota management on fats and oilseed in China. According to the statistics of China Customs, in 2005, the direct oils & fats import accumulated to 6.53 million ton, among which the palm oil was 4.33 million tons, the soybean oil was 1.694 million tons, the rapeseed oil and others was 506,000 tons. The import environment of edible oil has loosened since China cancelled the import quota on Jan 1 2006. In 2006, China import demands for edible oil keep growing at an average rate of approximately 3%-4%.
With the advancement of China national economy as well as people's living standard, the demands for small-package edible oil are becoming much stronger, and consequently, the competition seems more fiercely. Earlier, the competition focused on purchasing power, then extended to quality during late 1980s and early 1990s, and now concentrates on brand and functions, which results in price war, advertisement war and even promotion war.
Being in a relatively complicated investment period, China edible oil market, on one hand is in a sound development environment with government policies support and huge market; on the other hand, it has to face the increasing competition.
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Being closely related to national economy and people's livelihood, edible oil industry is enjoying a boom along with the establishment and improvement of Chinese market economy as well as the opening of grain and oil market. Besides, the traditional bulk edible oil is being gradually replac ... mehr
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