Cofeed News: till November 3rd(this week), stocks of edible palm oil at Chinese ports have decreased to 455,700 tonnes by 3.1% from 470,700 tonnes last week, yet up 25.8% against 362,300 tonnes the same period last month with an increase of 93,400 tonnes; stocks of industrial palm oil have downgraded to 69,500 tonnes by 14.2% from last week’s 81,000 tonnes, with a reduction of 11,500 tonnes. Generally, domestic stocks of palm oil pared gains this week. Importers prefer new arrivals of palm oil as import margins go better though spots spread between soybean and palm oils is slightly recovered to 290 yuan/tonne, far below the normal level. What’s more, turnover the blending of palm oil around China is seriously affected by gradually colder weather, which also limits its turnover. Later, domestic palm oil stocks are expected to accumulate but it still takes time.

                          Figure: Comparison of domestic palm oil stocks in recent years

    Imports of palm oil in October are adjusted to 0.45-0.50 Mln tonnes(0.35-0.38 Mln tonnes of 24-degree palm oil, 0.1-0.12 Mln tonnes of industrial palm oil), 0.45 Mln tonnes in November(0.35-0.37 Mln tonnes of 24-degree palm oil, 0.1-0.12 Mln tonnes of industrial palm oil); roughly 0.40 Mln tonnes in December(0.28-0.30 Mln tonnes of 24-degree palm oil, 0.1-0.12 Mln tonnes of industrial palm oil). Arrivals of palm oil may change with the market and shipping schedule, therefore information will be updated according to latest shipments and possible defaults.