I．National stock
This week (as of May 17th), edible palm oil stock totals 817,100 tonnes at domestic ports, down 1.9% from 833,100 tonnes last week and up 65,200 tonnes or 8.7% from 751,900 tonnes month on month, and up 207,200 tonnes or 33.97% from 609,900 tonnes year on year. Meanwhile, industrial palm oil stock at main domestic ports totals 129,600 tonnes, down 3,200 tonnes or 2.4% from 132,800 tonnes last week.
The edible palm oil stock this week stops rising and declines in China, stock in South China seeing a big drop. The May palm oil cargoes currently are not many. Besides, the palm oil demand will go up with the rise of temperature. Amid the increasing consumption of palm oil in May the palm oil demand is expected to further go up with rising temperature, which is favourable to destocking.
Fig.: China's palm oil stocks in recent years
II. Goods Arrivals
According to the latest statistics by Cofeed, the estimate of import volume for April this week is unchanged from last week at 530,000-540,000 tonnes (24-degree palm oil 410,000-420,000 tonnes and industrial palm oil 120,000 tonnes); the estimate for May this week increases 40,000 tonnes from last week at 420,000-450,000 tonnes (24-degree 400,000 tonnes and industrial palm oil 120,000-150,000 tonnes); the estimate for June this week is unchanged from last week at 410,000 tonnes (24-degree palm oil 290,000 tonnes and industrial palm oil 120,000 tonnes).
