The National Development and Reform Commission (NDRC), China's top economic planning agency, said on Monday the country's combined edible vegetable oil consumption stood at 23 million tons in 2007, 2 million tons more than a year earlier.
The country's total market supply last year reached 23.8 million tons, according to a statement on the NDRC website.
The NDRC said the current demand and supply of edible vegetable oil on the domestic market were balanced and could meet citizens' needs.
However, the NDRC and the State Grain Administration (SGA) called on their local branches to endeavor to maintain stable market supply as international soybean and edible oil prices had risen sharply recently.
The NDRC and the SGA ordered their local branches to accentuate the importance that the import of soybeans and edible vegetable oil would not be disrupted.
Two-thirds of edible oil materials in China, the largest global consumer, relies on imports. According to General Administration of Customs statistics, imports of edible oil and soybean reached 8.38 million tons and 30.82 million tons, respectively, last year, up 1.69 million tons and 2.58 million tons year on year.
The NDRC also asked local governments to track the inventory and price of edible oil price in real time and make efforts to maintain a sound market order.