Today is 05/07/2024
I. National stocks
Palm oil inventory in China goes sharply higher this week as palm oil vessels arrive at ports intensively. In the week ending October 16th, edible palm oil stock totals 422,400 tonnes at nationwide ports, up by 21.4% from 348,000 tonnes a week earlier; up 98,600 tonnes or 30.45% from 323,800 tonnes in the previous month; down 149,700 tonnes or 26.17% from 572,100 tonnes in the corresponding period last year. Meanwhile, industrial palm oil stock at domestic ports amounts to 111,200 tonnes, an increase of 22,100 tonnes or 24.8% from 89,100 tonnes last week.
|
Region |
Edible Palm Oil Stocks（0'000 tonne） |
Industrial Palm Oil Stocks |
||||||
|
W42 |
W41 |
Change |
M-O-M |
Y-O-Y |
W42 |
W41 |
Change |
|
|
Tianjin Port |
9.78 |
7.15 |
2.63 |
63.00% |
-11.49% |
2.8 |
2.3 |
0.5 |
|
Hebei |
0.5 |
0.6 |
-0.1 |
-50.00% |
-23.08% |
0 |
0 |
0 |
|
Shandong Port |
3.95 |
1.45 |
2.5 |
41.07% |
-4.36% |
2.07 |
1.32 |
0.75 |
|
East China |
9.35 |
9.3 |
0.05 |
10.65% |
-43.67% |
3.9 |
3.05 |
0.85 |
|
Guangdong |
13.76 |
11.59 |
2.17 |
39.98% |
-18.58% |
1.85 |
1.69 |
0.16 |
|
Guangxi |
1.9 |
2.41 |
-0.51 |
31.03% |
-52.26% |
0.5 |
0.55 |
-0.05 |
|
Fujian |
3 |
2.3 |
0.70 |
5.26% |
-23.08% |
0 |
0 |
0 |
|
Total： |
42.24 |
34.8 |
7.44 |
30.45% |
-26.17% |
11.12 |
8.91 |
2.21 |
II. Goods Arrivals
China is projected to bring in 670,000 tonnes of palm oil (RBD palm olein 550,000 tonnes and industrial palm oil 120,000 tonnes) in October with a rise of 50,000 tonnes from last week, according to the latest statistics by Cofeed. And palm oil imports in November are expected to be 720,000 tonnes (RBD palm olein 600,000 tonnes and industrial palm oil 120,000 tonnes), up by 100,000 tonnes from the estimate on September 25th.
III. Margins and Shipments
|
Date |
Sailing Schedule |
CNF |
Duty Paid |
DCE |
Import Margin |
|
10/12/2020 |
Dec, 2020 |
800 |
6453 |
6256 |
-197 |
|
Jan, 2021 |
772.5 |
6234 |
6256 |
22 |
|
|
Feb, 2021 |
762.5 |
6154 |
6006 |
-148 |
|
|
Mar, 2021 |
757.5 |
6114 |
6006 |
-108 |
|
|
Apr, 2021 |
745 |
6015 |
6006 |
-9 |
|
|
May, 2021 |
737.5 |
5955 |
6006 |
51 |
|
|
Jun, 2021 |
727.5 |
5875 |
5888 |
13 |
|
|
10/13/2020 |
Nov, 2020 |
795 |
6438 |
6228 |
-210 |
|
Dec, 2020 |
790 |
6398 |
6228 |
-170 |
|
|
Jan, 2021 |
760 |
6159 |
6228 |
69 |
|
|
Feb, 2021 |
750 |
6079 |
5956 |
-123 |
|
|
Mar, 2021 |
743 |
6023 |
5956 |
-67 |
|
|
Apr, 2021 |
733 |
5943 |
5956 |
13 |
|
|
May, 2021 |
723 |
5863 |
5956 |
93 |
|
|
Jun, 2021 |
715 |
5799 |
5818 |
19 |
|
|
10/14/2020 |
Dec, 2020 |
790 |
6393 |
6276 |
-117 |
|
Jan, 2021 |
770 |
6233 |
6276 |
43 |
|
|
Feb, 2021 |
760 |
6153 |
5978 |
-175 |
|
|
Mar, 2021 |
750 |
6073 |
5978 |
-95 |
|
|
Apr, 2021 |
740 |
5994 |
5978 |
-16 |
|
|
May, 2021 |
730 |
5914 |
5978 |
64 |
|
|
Jun, 2021 |
722.5 |
5854 |
5804 |
-50 |
|
|
10/15/2020 |
Dec, 2020 |
790 |
6376 |
6140 |
-236 |
|
Jan, 2021 |
770 |
6216 |
6140 |
-76 |
|
|
Feb, 2021 |
755 |
6097 |
5876 |
-221 |
|
|
Mar, 2021 |
747.5 |
6037 |
5876 |
-161 |
|
|
Apr, 2021 |
735 |
5937 |
5876 |
-61 |
|
|
May, 2021 |
730 |
5898 |
5876 |
-22 |
|
|
Jun, 2021 |
717.5 |
5798 |
5700 |
-98 |
|
|
10/16/2020 |
Nov, 2020 |
790 |
6375 |
6052 |
-323 |
|
Dec, 2020 |
780 |
6295 |
6052 |
-243 |
|
|
Jan, 2021 |
745 |
6016 |
6052 |
36 |
|
|
Feb, 2021 |
737.5 |
5956 |
5770 |
-186 |
|
|
Mar, 2021 |
727.5 |
5877 |
5770 |
-107 |
|
|
Apr, 2021 |
717.5 |
5797 |
5770 |
-27 |
|
|
Jun, 2021 |
702.5 |
5677 |
5586 |
-91 |