I. National stocks

In the week ending July 24, edible palm oil stock totals 340,300 tonnes at domestic ports, down by 6.3% from 363,200 tonnes a week earlier; down by 69,800 tonnes or 17.02% from 410,100 tonnes the same period last month; down by 294,400 tonnes or 6.38% from 634,700 tonnes the corresponding period last year. Meanwhile, industrial palm oil stock at domestic ports totals 126,100 tonnes, a rise of 6,600 tonnes or 5.5% from 119,500 tonnes in the previous week.

This week, palm oil stocks slide, for less arrival of palm oil cargoes. And palm oil trading in market goes better than last week, totaling 36,100 tonnes, an increase of 7,440 tonnes or 25.96% from 28,660 last week. There are nearly 450,000 tonnes of RBD palm olein arriving at ports in July. But the demand for palm oil is also limited as its price spread with soybean oil has narrowed. Accordingly, palm oil stock is projected to pick up in later period.

II. Goods Arrivals

According to the latest statistics by Cofeed, palm oil imports are estimated to be 570,000 tonnes in July (RBD palm olein 450,000 tonnes and industrial palm oil 120,000 tonnes), 540,000 tonnes in August (RBD palm olein 420,000 tonnes and industrial palm oil 120,000 tonnes) and 570,000 tonnes in September (RBD palm olein 450,000 tonnes and industrial palm oil 120,000 tonnes). All these data are flat from last week.

III. Margins and Shipments