I. National stocks

There still not many boatloads of palm oil arriving at ports, while it has made good progress in ex-warehouse of palm oil. Thus palm oil stocks drop further this week. In the week ending July 31, edible palm oil stock totals 290,000 tonnes at domestic ports, down by 14.78% from 340,300 tonnes a week earlier; down by 96,800 tonnes or 25.03% from 386,800 tonnes the same period last month; down by 312,700 tonnes or 51.88% from 602,700 tonnes the corresponding period last year. Meanwhile, industrial palm oil stock at domestic ports totals 124,300 tonnes, a decline of 1,800 tonnes or 1.4% from 126,100 tonnes in the previous week.

II. Goods Arrivals

According to the latest statistics by Cofeed, palm oil imports amount to 520,000 tonnes in July (RBD palm olein 400,000 tonnes and industrial palm oil 120,000 tonnes), down by 50,000 tonnes from the estimate last week. And China is projected to bring in 540,000 tonnes of palm oil (RBD palm olein 420,000 tonnes and industrial palm oil 120,000 tonnes) in August and 570,000 tonnes in September (RBD palm olein 450,000 tonnes and industrial palm oil 120,000 tonnes), unchanged with the estimate a week earlier. And this week, Chinese importers have bought four cargoes of palm oil for shipment in August-October.

III. Margins and Shipments