Today is 03/29/2024

China’s Palm Oil Stocks and Arrivals Weekly (Week 38, 2019)

2019-09-24 www.cofeed.com
I.National stocks

This week (as of Sept. 20th), edible palm oil stock totals 558,850 tonnes at domestic ports, down 1.5% from 567,500 tonnes last week and down 16,050 tonnes or 2.8% from 57,490 tonnes the same period last month, and up 84,050 tonnes or 17.7% from 474,800 tonnes the same period last year. Meanwhile, industrial palm oil stock at main domestic ports totals 95,800 tonnes, down 950 tonnes or 0.9% from 96,750 tonnes last week.

The arrivals this week is not a lot. And the trading volume increase on the rises of domestic oils spots and futures as the attack on Saudi last weekend leads to a surge of crude oil. The trading volume  this week is 23,100 tonnes, up 216.44% from 7,300 tonnes last week. However, the blending of palm oil with low melting point is limited by the drop in temperature. And with the average monthly arrivals of over 500,000 tonnes for next two month, stocks is predicted to rise.

Region
/Port

Edible Palm Oil Stocks0'000 mT

Industrial Palm Oil Stocks

W38

W37

Change

M-O-M

Y-O-Y

W38

W37

Change

Tianjin Port

11.65

11.15

0.5

115.70%

1.30%

2.6

2.6

0

Hebei

0.55

0.7

-0.15

-21.40%

-8.33%

0.15

0.2

-0.05

Shandong Port

3.965

2.67

1.295

59.80%

36.72%

1.17

1.35

-0.18

East China

16.3

15.75

0.55

-15.98%

2.52%

3.5

3.3

0.2

Guangdong

17.45

19.85

-2.4

-23.46%

57.92%

1.88

2.05

-0.17

Guangxi

3.02

3.78

-0.76

2.03%

-3.51%

0.28

0.175

0.105

Fujian

2.95

2.85

0.1

-21.33%

22.92%

0

0

0

Total

55.885

56.75

-0.865

-2.79%

17.70%

9.58

9.675

-0.095



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 Sept. this week is down 50,000 tonnes  from last week to settle at 620,000 tonnes (refined palm olein 500,000 tonnes and industrial palm oil 120,000 tonnes); and the estimate for Oct. this week goes up 50,000 tonnes from last week to settle at 670,000 tonnes (refined palm olein 550,000 tonnes and  industrial palm oil 120,000 tonnes); and the estimate of import volume for Nov. is unchanged from last week to settle at 620,000 tonnes (refined palm olein 500,000 tonnes and industrial palm oil 120,000 tonnes).

III. Margins and Shipments

Date

Sailing Schedule

CNF
USD/mT

Duty Paid
(RBM/mT)

DCE
(RBM/mT)

Import Margin

2019/9/17

Oct. 2019

582.5

4975

5016

41

2019/9/18

Nov. 2019

570

4870

4888

18

2019/9/18

Dec. 2019

580

4954

4888

-66

2019/9/19

Nov. 2019

570

4876

4820

-56

2019/9/19

Dec. 2019

557.5

4939

4820

-119

2019/9/20

Nov. 2019

562.5

4807

4790

-17

2019/9/20

Dec. 2019

570

4870

4790

-80



Date

Cargoes

Sailing Schedule

CNF
USD/mT

Duty Paid
(RBM/mT)

Qty.
0'000 mT

2019/9/16

1

Oct

571

4878

1.2

2019/9/17

6

Oct

573-575

4895-4911

7.2

2019/9/17

1

Nov

575

4911

1.2

2019/9/17

7

Dec

578-580

4937-4954

8.4

2019/9/18

4

Nov

565

4828

4.8

2019/9/19

1

Nov

560

4792

1.2

2019/9/20

0