This week (as of July 26th), edible palm oil stock totals 634,700 tonnes at domestic ports, down 3.3% from 656,700 tonnes last week and down 24,400 tonnes or 3.7% from 659,100 tonnes the same period last month, and up 67,000 tonnes or 11.8% from 567,700 tonnes the same period last year. Meanwhile, industrial palm oil stock at main domestic ports totals 107,900 tonnes, down 11,900 tonnes or 9.9% from 119,800 tonnes last week.

China's edible palm oil stock this week declines again. The trading volume increase as the arrivals is not a lot and the rise of palm oil future at home and abroad buoyed some buyers purchase activities. The total trading volume this week is 18500 tonnes, up 5000 tonnes from 13500 tonnes last week. However, import dealers are active in palm oil purchase due to the increase of import margins previously. The August arrivals for 24-degree palm oil are predicted to break through 500,000 tonnes, likely up to 550,000-580,000 tonnes amid the delay of some July arrivals and the potential of palm oil stocks rebound is expected.

Fig.: China's palm oil stocks in recent years

According to the latest statistics by Cofeed, the estimate of import volume for July this week is down 50,000 tonnes from last week to settle at 470,000-520,000 tonnes (24-degree palm oil 350,000-400,000 tonnes and industrial palm oil 120,000 tonnes); and the estimate for August this week goes up 50,000 tonnes from last week to settle at 670,000-700,000 tonnes (24-degree 550,000-580,000 tonnes and industrial palm oil 120,000 tonnes); and the import volume estimate of 24-degree palm oil for September is 570,000 tonnes (24-degree palm oil 450,000 tonnes and industrial palm oil 120,000 tonnes).