Today is 05/25/2020

China’s Palm Oil Stocks and Arrivals Weekly (Week 34, 2019)

I.National stocks

This week (as of Aug. 23), edible palm oil stock totals 574,900 tonnes at domestic ports, up 8.9% from 527,700 tonnes last week and down 59,800 tonnes or 9.4% from 403,400 tonnes the same period last month, and up 171,500 tonnes or 42.51% from 403,400 tonnes the same period last year. Meanwhile, industrial palm oil stock at main domestic ports totals 113,900 tonnes, down 400 tonnes or 0.3% from 114,300 tonnes last week.

The palm oil arrivals this week increase, and edible palm oil stocks stop declining and increase, above 570,000 tonnes. Moreover, the supply will rise later because Malaysia palm oil export further goes up due to the 0% export tariff in September, with a monthly surge of 18% for Aug. 1-25, and among that a total of 265045 tonnes exporting to China, greatly up by 169255 tonnes from 95790 tonnes of the same period last month, according to Intelligent Transport System. Add that some August arrivals are delayed to September and the palm oil stock is predicted to further go up.


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 August this week is unchanged from last week to settle at 620,000 tonnes (24-degree palm oil 500,000 tonnes and industrial palm oil 120,000 tonnes), and the estimate for Sept. this week is unchanged from last week at 620,000 tonnes (24-degree 500,000 tonnes and  industrial palm oil 120,000 tonnes). The estimate of import volume for Oct. this week is unchanged from last week at 520,000 tonnes (24-degree palm oil 400,000 tonnes and industrial palm oil 120,000 tonnes).