Today is 08/05/2020

China’s Palm Oil Stocks and Arrivals Weekly (Week 35, 2019)

I.National stocks

This week (as of Aug. 30), edible palm oil stock totals 549,400 tonnes at domestic ports, down 4.4% from 574,900 tonnes last week, down 53,300 tonnes or 8.8% from 602,700 tonnes the same period last month, and up 118,500 tonnes or 27.5% from 430,900 tonnes the same period last year. Meanwhile, industrial palm oil stock at main domestic ports totals 95,500 tonnes, down 18,400 tonnes or 16.1% from 113,900 tonnes last week.

The trading volume obviously turns thin this week as the drop of palm oil future at home and abroad affects some buyers purchase activities. The total trading volume this week is 10900 tonnes, greatly down 86800 tonnes or 88.8% from 97700 tonnes last week. But as the arrivals are less, China's edible palm oil stock this week further declines. However, the pork stocks are likely to rise after a dense arrivals in Sept. and Oct., as well as the declining consumption of palm oil for blending due to cold weather.


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).