Breaking News-RTRS-China importing more palm oil, Oil World says

HAMBURG, Oct 5 (Reuters) - China is increasing imports of palm oil partly because of lower prices compared to soyoil, Hamburg-based oilseeds analysts Oil World said on Tuesday.
"China has reportedly stepped up purchases of palm oil on the world market recently, which will result in a notable recovery of palm oil imports from the low arrivals in August," Oil World said.
"Palm oil has improved its competitiveness vis-a-vis soyoil, stimulating recent purchases," it added.
Asian fob palm oil prices were about $115-$137 a tonne cheaper than U.S. and Brazilian soyoil in the past week, Oil World data showed.
Malaysia's September palm oil exports surged 21.3 percent on the month in September, partly because of a rise in shipments to China to 302,000 tonnes from 133,000 tonnes in August, Oil World noted.