I. National Stocks
Cofeed News: This week (as of 12th Oct), edible palm oil stock at domestic ports totals 448,300 tonnes, down 400 tonnes by 0.09% from 448,700 tonnes last week, and down 16,400 tonnes by 3.5% from 464,700 tonnes of the same period last month, yet up 10,600 tonnes by 2.4% from 437,700 tonnes of the same period last year. Besides, industrial palm oil stock at main domestic ports totals 95,200 tonnes, up 6,400 tonnes by 7.2% from 88,800 tonnes last week.
This week, total stock of domestic palm oil will keep going down, which is mainly due to tardy arrivals at port and intensive ownership of domestic palm oil among a better consumption on palm oil as the trade goes fair under climbing palm oil futures both at home and abroad after festival. This week, total trading volume of palm oil is 24,400 tonnes, as compared to 37,000 of the week just before the National Day. But the arrival of 24-degree palm oil at port will reach 350,000-400,000 tonnes in October under the ongoing purchase, while its blending usage amount will be limited by the cooling weather, which will probably boost later stocks, but will be at a slower speed.
Fig.: China’s palm oil stocks in recent years
II. Goods Arrivals
According to Cofeed, import volume in September is about 420,000-430,000 tonnes (24- degree 300,000 tonnes and industrial palm oil 120,000-130,000 tonnes), and 470,000 to 530,000 tonnes (24-degree 350,000-400,000 tonnes and industrial palm oil 120,000-130,000 tonnes) in October, both basically unchanged from the discreet value given last week. And the import value is projected at 470,000-490,000 tonnes in November (24-degree 350,000-370,000 tonnes and industrial palm oil 120,000-130,000 tonnes), holding the estimate given last week, and it will be about 540,000 tonnes (24-degree 420,000 tonnes and industrial palm oil 120,000 tonnes) in December. (Shipping schedule may change in accordance with the market, so information will be updated on the basis of latest shipment and violation in shipment).
