I. National stocks

Palm oil stocks in China continue declining due to less arrival at ports. In the week ending June 12, edible palm oil stock totals 352,100 tonnes at domestic ports, down 6.4% from 376,200 tonnes a week earlier; down 911,000 tonnes or 20.56% from 443,200 tonnes the same period last month; down 327,100 tonnes or 48.16% from 679,200 tonnes the corresponding period last year. Meanwhile, industrial palm oil stock at domestic ports totals 86,700 tonnes, a decline of 3,550 tonnes or 3.9% from 90,250 tonnes the previous week. Additionally, Chinese buyers still purchase few boatloads of palm oil in later period, leading to low inventory of palm oil.

Fig.: China's palm oil stocks in recent years

II. Goods Arrivals

According to the latest statistics by Cofeed, palm oil imports in June forecast at 420,000 tonnes (RBD palm olein 300,000 tonnes and industrial palm oil 120,000 tonnes) and flat from last week; that for July is 420,000-440,000 tonnes (RBD palm olein 300,000-320,000 tonnes and industrial palm oil 120,000 tonnes), up 50,000 tonnes from the previous week.

III. Margins and Shipments