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Statistical analysis on domestic palm oil stocks and arrivals weekly(week 42 , 2017)

2017-10-24 www.cofeed.com
I.Port stocks 
Cofeed News:Chinese port stocks of palm oil continue to pile up. Till October 20th, edible palm oil amounted to 457,700 tonnes, up 4.5% compared with last week's 437,700 tonnes, and up 31.5% against 347,800 tonnes last month, an increase of 109,900 tonnes; industrial palm oil stocks are 65,200 tonnes in total in Chinese major ports, up 12% from last week’s 58,200 tonnes, an increase of 7,000 tonnes. Nevertheless, the blending of palm oil is seriously influenced as spots spread between soybeans and palm is plunged from 700 yuan/tonne($106) to 233 yuan/tonne($35), an impressive slump of 66.7%, and what worsens the situation is that domestic oil market are gloomy after the end of holidays and gradually colder weather. Later, domestic palm oil arrivals at ports are expected to downside amid growing stockpiles. According to ITS, palm oil in shipments from Malaysia to China on October 20th were 148,380 tonnes in total, down 30,052 tonnes against 178,432 tonnes last month, therefore on this very note, it takes time for palm oil stockpiles to pile up significantly.

                             Figure: Comparison of domestic palm oil stocks in recent years

II.Arrivals
Imports of palm oil in October are adjusted to 0.35-0.40 Mln tonnes(of which 24-degree palm oil 0.25-0.28 Mln tonnes, industrial palm oil 0.1-0.12 Mln tonnes), 0.35-0.37 Mln tonnes in November(of which 24-degree palm oil 0.25 Mln tonnes, industrial palm oil 0.1-0.12 Mln tonnes); roughly 0.35-0.37 Mln tonnes in December(of which 24-degree palm oil 0.25 Mln tonnes, industrial palm oils 0.1-0.12 Mln tonnes). Arrivals of palm oil may change with the market, therefore information will be updated according to latest shipments and possible defaults.