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China’s Palm Oil Stocks and Arrivals Weekly (Week 19, 2020)

2020-05-12 www.cofeed.com
I. National stocks
 
Palm oil stocks in China continue the decline this week due to less arrival of cargoes. In the week ending May 8, edible palm oil stock to totals 488,600 tonnes at domestic ports, down 4.3% from 510,500 tonnes a week earlier; down 156,500 tonnes or 24.26% from 645,100 tonnes the same period last month; down 344,500 tonnes or 41.4% from 833,100 tonnes the same period last year. Meanwhile, industrial palm oil stock at domestic ports totals 97,680 tonnes, down 3,570 tonnes or 3.5% from 101,250 tonnes last week. As importers has bought upwards of 30 cargoes of palm oil for May-November shipment, the falls of palm oil stocks are predicted to slow down in later period.
 

Region
/Port

Edible Palm Oil Stocks（0'000 tonne）

Industrial Palm Oil Stocks

W19

W18

Change

M-O-M

Y-O-Y

W19

W18

Change

Tianjin Port

6.17

5.65

0.52

-19.87%

-59.81%

2.6

1.9

0.4

Hebei

0.27

0.3

-0.03

-65.82%

-32.50%

0.21

0.03

0.18

Shandong Port

1.87

1.95

-0.08

-29.43%

-60.63%

0.725

0.82

-0.095

East China

15.75

16.65

-0.9

-23.91%

-46.65%

4.55

5.4

-0.85

Guangdong

20.52

22.76

-2.24

-24.48%

-22.71%

1.5

1.68

-0.18

Guangxi

1.88

1.39

0.49

-35.17%

-30.11%

0.183

0.295

-0.112

Fujian

2.4

2.35

0.05

0.00%

-40.74%

0

0

0

Total：

48.86

51.05

-2.19

-24.26%

-41.35%

9.768

10.125

-0.657
 
Fig.: China's palm oil stocks in recent years
 
II. Goods Arrivals
 
According to the latest statistics by Cofeed, palm oil imports in May forecast at 420,000 tonnes (RBD palm olein 300,000 tonnes and industrial palm oil 120,000 tonnes) and up 50,000 tonnes from last week; that for June is 370,000 tonnes (RBD palm olein 250,000 and industrial palm oil 120,000 tonnes) and up 50,000 tonnes compared with last week; that for July is 370,000 tonnes (RBD palm olein 250,000 and industrial palm oil 120,000 tonnes).
 
III. Margins and Shipments
 

Date

Sailing Schedule

CNF
（USD/tonne）

Duty Paid
(CNY/tonne)

DCE
(CNY/tonne)

Import Margin

5/6/2020

Jun, 2020

525

4493

4342

-151

5/6/2020

Jul, 2020

510

4367

4342

-25

5/6/2020

Sep, 2020

510

4367

4342

-25

5/6/2020

Aug, 2020

510

4367

4342

-25

5/6/2020

Nov, 2020

532

4552

4502

-50

5/7/2020

Jun, 2020

522.5

4477

4342

-135

5/7/2020

Sep, 2020

515

4414

4342

-72

5/7/2020

Nov, 2020

525

4498

4528

30

5/8/2020

Jun, 2020

525

4484

4378

-106

5/8/2020

Jul, 2020

517.5

4421

4378

-43

5/8/2020

Sep, 2020

517.5

4421

4378

-43

5/8/2020

Aug, 2020

517.5

4421

4378

-43
 

Date

Cargoes

Sailing Schedule

CNF
（USD/tonne）

Duty Paid
(CNY/tonne)

Qty.
（0'000 tonne）

5/6/2020

10

May

525

4493

1.2

May

522.5

4478

1.2

Jun

517

4435

1.2

Aug

507

4341

2.4

Sep

510

4367

2.4

Sep

507

4341

1.2

Nov

519

4442

2.4

5/7/2020

2

Jun

515

4418

1.2

Sep

510

4367

1.2

5/8/2020

3

Aug

515

4400

3.6

Nov

528

4509

2.4
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