Chinese biodiesel exports hit record high in September

Chinese biodiesel exports hit an all-time high of 119,000t in September, narrowly beating the previous record of 113,000t set in April, according to Global Trade Tracker.

Sales slumped to 39,000t in June as Covid-19 caused European buyers to halt or delay purchases. But restrictions were gradually lifted over the summer and cargoes started flowing again though with the second wave biting down as winter approaches, exports could start tumbling once more.

Biodiesel shipments totalled just 61,000t in September 2019 and 82,000t in August this year.

Exports over the first three quarters of 2020 were 684,000t compared with 447,000t during the same period last year. The Netherlands took 70pc of that, Spain 21pc and Belgium 7pc.

Imports slumped to 19,000t in September from 163,000t a year earlier as cheap palm-based product from Indonesia and Malaysia was no longer available given high feedstock costs, low gasoil prices and increased domestic mandates in the producer countries. Just 69,000t was bought between January-September, down sharply from 781,000t a year earlier.

Used cooking oil exports were flat at 79,000t in September from 76,000t a year earlier, though this was down from 91,000t sold in August. Shipments for the first nine months of 2020 at 703,000t still exceeded year-earlier levels of 543,000t.

The Netherlands was again the biggest buyer taking 29pc of the total, followed by Spain with 23pc and Malaysia with 17pc, though most of this was bound to be re-exported to Europe.

By Amandeep Parmar