South Korea’s August base oil exports up 11%, imports down 10.78%

05 October 2012 08:23  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea's base oil export volume for August rose by 11% or 28,882 tonnes from July, according to data released by Korea International Trade Association (KITA).

The total base oil exports stood at 292,801 tonnes in August as compared to 263,919 tonnes in July. This, however, was a year-on-year decrease of 16.22% or 56,693 tonnes. No breakdown of base oils grade was available from KITA.

South Korea exported 63,536 tonnes of base oils to India and 56,963 tonnes to US in August, down by 29% and 11.3% respectively from July, according to the data.

The country's base oil imports in August totalled 35,815 tonnes, a decline of 10.78% from July and a fall of 31.85% from the same period in 2011, the data showed.

By: Serena Seng

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