soybean oil

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 soybean 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 soybean 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 soybean 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 soybean 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.