Today is 12/23/2024
I. National stocks
Due to more arrival of palm oil cargoes and reduced demand during National Day holidays, palm oil inventory in China stops falling and starts rallying this week. In the week ending October 9th, edible palm oil stock totals 348,000 tonnes at nationwide ports, up 46,900 tonnes or 15.58% versus 301,100 tonnes on September 25th; up 10,500 tonnes or 3.1% from 337,500 tonnes in the previous month; down 194,700 tonnes or 35.88% from 542,700 tonnes in the corresponding period last year. Meanwhile, industrial palm oil stock at domestic ports amounts to 89,100 tonnes, a decrease of 16,600 tonnes or 15.7% from 105,700 tonnes on September 25th.
| Region /Port |
Edible Palm Oil Stocks（0'000 tonne） | Industrial Palm Oil Stocks | ||||||
| W40 | W39 | Change | M-O-M | Y-O-Y | W40 | W39 | Change | |
| Tianjin Port | 6.25 | 6.35 | -0.1 | -14.77% | -38.35% | 2.6 | 2.7 | -0.1 |
| Hebei | 0.65 | 0.8 | -0.2 | 300.00% | 100.00% | 0.05 | 0.1 | -0.05 |
| Shandong Port | 1.95 | 2.35 | -0.4 | 49.68% | -47.19% | 1.37 | 1.39 | -0.02 |
| East China | 7.8 | 7.05 | 0.75 | -38.43% | -49.93% | 3.7 | 4.1 | -0.4 |
| Guangdong | 8.33 | 9.51 | -1.18 | -13.07% | -52.21% | 1.74 | 1.73 | 0.01 |
| Guangxi | 2.57 | 1.95 | 0.62 | -8.45% | -40.37% | 0.55 | 0.55 | 0 |
| Fujian | 1.5 | 2.1 | -0.60 | 16.67% | -17.65% | 0 | 0 | 0 |
| Total： | 29.05 | 30.11 | -1.11 | -15.28% | -45.20% | 10.01 | 10.57 | -0.56 |
|
Region |
Edible Palm Oil Stocks（0'000 tonne） |
Industrial Palm Oil Stocks |
||||||
|
W41 |
W39 |
Change |
M-O-M |
Y-O-Y |
W41 |
W39 |
Change |
|
|
Tianjin Port |
7.15 |
6.35 |
0.8 |
-1.10% |
-35.29% |
2.3 |
2.7 |
-0.4 |
|
Hebei |
0.6 |
0.8 |
-0.2 |
200.00% |
-20.00% |
0 |
0.1 |
-0.1 |
|
Shandong Port |
1.45 |
2.35 |
-0.9 |
-48.21% |
-68.34% |
1.32 |
1.39 |
-0.07 |
|
East China |
9.3 |
7.05 |
2.25 |
1.08% |
-28.46% |
3.05 |
4.1 |
-1.05 |
|
Guangdong |
11.59 |
9.51 |
2.08 |
15.67% |
-31.62% |
1.69 |
1.73 |
-0.04 |
|
Guangxi |
2.41 |
1.95 |
0.46 |
23.59% |
-25.62% |
0.55 |
0.55 |
0 |
|
Fujian |
2.3 |
2.1 |
0.20 |
-29.23% |
-51.06% |
0 |
0 |
0 |
|
Total： |
34.8 |
30.11 |
4.69 |
3.11% |
-35.88% |
8.91 |
10.57 |
-1.66 |
II. Goods Arrivals
China is projected to bring in 620,000 tonnes of palm oil (RBD palm olein 500,000 tonnes and industrial palm oil 120,000 tonnes) in October, according to the latest statistics by Cofeed. And palm oil imports in November are expected to be 620,000 tonnes (RBD palm olein 500,000 tonnes and industrial palm oil 120,000 tonnes). Both of them are flat from the estimate on September 25th.
III. Margins and Shipments
|
Date |
Sailing Schedule |
CNF |
Duty Paid |
DCE |
Import Margin |
|
10/9/2020 |
Dec, 2020 |
755 |
6089 |
6082 |
-7 |
|
10/9/2020 |
Jan, 2021 |
745 |
6009 |
6082 |
73 |
|
10/9/2020 |
Feb, 2021 |
740 |
5969 |
5880 |
-89 |
|
10/9/2020 |
Mar, 2021 |
735 |
5929 |
5880 |
-49 |
|
10/9/2020 |
Apr, 2021 |
730 |
5890 |
5880 |
-10 |
|
10/9/2020 |
May, 2021 |
725 |
5850 |
5880 |
30 |
|
10/9/2020 |
Jun, 2021 |
720 |
5810 |
5756 |
-54 |