As of this Friday (Feb. 14), edible palm oil stock totals 942,200 tonnes at domestic ports, down 0.3% from 945,100 tonnes a week earlier; up 89,900 tonnes or 10.5% from 852,300 tonnes the same period last month; up 175,600 tonnes or 22.9% from 766,600 tonnes the same period last year. Meanwhile, industrial palm oil stock at domestic ports totals 160,500 tonnes, up 15,200 tonnes or 10.46% from 145,300 tonnes last week.

This week, domestic edible palm oil stocks decline slightly. But the price spread between soybean oil and palm oil still stays at a low level, which remains at 458 yuan/tonne as of this Friday. However, the demand for oils is affected by the spread of novel coronavirus pneumonia epidemic, and oil futures significantly drop at home and abroad this week. Moreover, 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 very light this week, which totals 4,350 tonnes with a decrease of 3,910 tonnes or 47.3% from 8,260 tonnes last week. Additionally, China’s buyers have bought not many cargoes of palm oil due to the poor import profit, so edible palm oil stocks are likely to slide in later period.

Region /Port	Edible Palm Oil Stocks（0'000 mT）					Industrial Palm Oil Stocks
	W7	W6	Change	M-O-M	Y-O-Y	W7	W6	Change
Tianjin Port	14.55	15.4	-0.85	23.30%	5.80%	1.2	1.2	0
Hebei	0.8	0.7	0.1	100.00%	166.70%	0.3	0.5	-0.2
Shandong Port	3.3	3.55	-0.25	-20.90%	0.00%	1.55	1.65	-0.1
East China	35.02	32.47	2.55	13.15%	52.86%	9.9	8.3	1.6
Guangdong	32.9	34.15	-1.25	8.20%	4.10%	2.62	2.45	0.17
Guangxi	3.82	4.39	-0.57	-11.36%	91.00%	0.48	0.43	0.05
Fujian	3.83	3.85	-0.02	19.70%	36.80%	0	0	0
Total：	94.22	94.51	-0.29	10.55%	22.90%	16.05	14.53	1.52

According to the latest statistics by Cofeed, the estimate of import volume for February this week is 320,000 tonnes and flat from last week (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).