As of this Friday (Feb. 7), edible palm oil stock totals 945,100 tonnes at domestic ports, up 8.01% from 875,000 tonnes a week earlier; up 92,800 tonnes or 10.9% from 852,300 tonnes the same period last month. Meanwhile, industrial palm oil stock at domestic ports totals 145,300 tonnes, up 4,300 tonnes or 3.05% from 141,000 tonnes last week.

This week, domestic edible palm oil stock has exceeded 900,000 tonnes because of the intensive arrival of cargoes of palm oil at ports and narrowing price spread between soybean oil and palm oil. As of this Friday, the price spread between soybean oil and palm oil has narrowed by 120 yuan/tonne to 458 yuan/tonne compared with 578 yuan/tonne before holiday. But due to the panic mood brought by the novel coronavirus pneumonia epidemic, catering industry has been hard hit, and thereby affecting the demand for oils. Moreover, oil futures on Dalian Commodity Exchange decline this week. And oils market has been in an off season after holiday, and the delivery of palm oil has been delayed. In consequence, the trading volume of palm oil is light this week, which totals 8,260 tonnes with a decrease of 9,540 tonnes or 53.59% from 17,800 tonnes before holiday. It is predicted that the growth of palm oil stock will slow down on account of less import in February.

Region /Port	Edible Palm Oil Stocks（0'000 mT）				Industrial Palm Oil Stocks
	W6	W5	Change	M-O-M	W6	W5	Change
Tianjin Port	15.4	14.75	0.65	52.06%	1.2	1.2	0
Hebei	0.7	0.75	-0.05	10.29%	0.5	0	0.5
Shandong Port	3.55	3.75	-0.2	21.75%	1.65	1.7	-0.05
East China	32.47	31	1.47	5.26%	8.3	8.6	-0.3
Guangdong	34.15	29.8	4.35	25.47%	2.45	2.2	0.25
Guangxi	4.39	3.45	0.94	-20.30%	0.43	0.4	0.03
Fujian	3.85	4	-0.15	37.90%	0	0	0
Total：	94.51	87.5	7.01	18.42%	14.53	14.1	0.43

According to the latest statistics by Cofeed, the estimate of import volume for February this week is 320,000 tonnes and flat from before holiday (RBD palm olein 200,000 tonnes and industrial palm oil 120,000 tonnes). And the estimate for March is 320,000 tonnes (RBD palm olein 200,000 and industrial palm oil 120,000 tonnes).