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China’s Palm Oil Stocks and Arrivals Weekly (Week 46, 2019)

2019-11-19 www.cofeed.com
I. National stocks

This week (as of Nov. 15), edible palm oil stock totals 650,800 tonnes at domestic ports, up 6.6% from 610,500 tonnes last week and up 78,700 tonnes or 13.76% from 572,100 tonnes the same period last month and up 225,600 tonnes or 53.06% from 425,200 tonnes the same period last year. Meanwhile, industrial palm oil stock at domestic ports totals 142,800 tonnes, up 9,700 tonnes or 7.3% from 133,100 tonnes last week.

Domestic palm oil stock this week continues to pick up due to an increase of cargoes arriving at ports. As Chinese buyers purchase more cargoes of palm oil from November to December, the monthly import volume of RBD palm olein from November to December is predicted to reach around 550,000 tonnes on average. Due to the shrinking demand under colder weather, palm oil stock is likely to keep an upward trend.

Region
/Port

Edible Palm Oil Stocks0'000 mT

Industrial Palm Oil Stocks

W46

W45

Change

M-O-M

Y-O-Y

W46

W45

Change

Tianjin Port

5.5

5.7

-0.2

-50.20%

-44.40%

4.3

4.25

0.05

Hebei

0.88

0.25

0.63

35.40%

193.30%

0.2

0.05

0.15

Shandong Port

4.82

4.21

0.61

16.70%

135.12%

1.46

1.03

0.43

East China

22.25

17.45

4.8

34.03%

253.10%

5.75

5.35

0.4

Guangdong

26.3

26.7

-0.4

55.60%

109.22%

2.3

2.4

-0.1

Guangxi

1.93

2.34

-0.41

-51.50%

-16.08%

0.27

0.23

0.04

Fujian

3.4

4.4

-1

-12.80%

62.70%

0

0

0

Total

65.08

61.05

4.03

13.76%

53.06%

14.28

13.31

0.97



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 November this week is 670,000 tonnes unchanged with last week (RBD palm olein 550,000 and industrial palm oil 120,000 tonnes), and the estimate for December also remains flat at 670,000 tonnes compared with last week (RBD palm olein 550,000 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

2019/11/4

Dec. 2019

620

5246

5300

54

2019/11/5

Dec. 2019

660

5580

5404

-176

2019/11/6

Dec. 2019

645

5430

5382

-48

2019/11/7

Dec. 2019

650

5489

5312

-177

2019/11/8

Dec. 2019

645

5415

5338

-77

2019/11/11

Dec. 2019

655

5517

5542

25

2019/11/12

Dec. 2019

665

5603

5524

-79

2019/11/12

Jan.2019

675

5686

5524

-162

2019/11/13

Dec. 2019

665

5616

5472

-144

2019/11/13

Jan.2019

675

5699

5472

-227

2019/11/14

Dec. 2019

660

5575

5438

-137

2019/11/14

Jan.2019

670

5659

5438

-221

2019/11/15

Dec. 2019

662.5

5585

5372

-213

2019/11/15

Jan.2019

675

5689

5372

-317

Date

Cargoes

Sailing Schedule

CNF
USD/mT

Duty Paid
(RBM/mT)

Qty.
0'000 mT

2019/11/11

0

  

 

 

 

2019/11/12

0

 

 

 

 

2019/11/13

0

 

 

 

 

2019/11/14

0

 

 

 

 

2019/11/15

0