I．National stocks
This week (as of Mar. 22th), edible palm oil stock totals 761,100 tonnes at domestic ports, up 0.9% from 753,900 tonnes last week and down 15,700 tonnes or 2% from 776,800 tonnes month on month, and up 85,000 tonnes or 12.6% from 676,100 tonnes year on year. Meanwhile, industrial palm oil stock at main domestic ports totals 140,000 tonnes, up 12,100 tonnes by 9.5% from 127,900 tonnes last week.
With some palm oil arrivals, this week China's palm oil stock rises after a previous decline.
Moreover, with the favorable profit for palm oil import, China's importers continue to make orders, especially for shipment in April. The import volume in April is expected to be 420,000 tonnes (24-degree palm oil 300,000 tonnes; industrial palm oil 120,000 tonnes) and the stock will very likely rise.
Fig.: China's palm oil stocks in recent years
II．Goods Arrivals
According to the latest statistics by Cofeed, the import for March is expected to maintain the same level as the estimate given last week to settle at 340,000-390,000 tonnes (24-degree palm oil 220,000-260,000 tonnes and industrial palm oil 120,000-130,000 tonnes), and the estimate for April remains flat from that of last week to settle at 420,000-440,000 tonnes (24-degree 300,000-320,000 tonnes and industrial palm oil 120,000 tonnes).
