I. National stocks

In the week ending November 20^th, edible palm oil stocks in China total 433,700 tonnes at nationwide ports, up by 10.89% from 391,100 tonnes a week earlier; up 47,200 tonnes or 12.2% from 386,500 tonnes in the previous month; down 244,900 tonnes or 36.09% from 678,600 tonnes in the corresponding period last year. Meanwhile, industrial palm oil stock at domestic ports amounts to 122,300 tonnes, an increase of 10,900 tonnes or 9.8% from 111,400 tonnes last week.

Palm oil stocks rise this week due to more vessels arrivals and weaker demand. And palm oil consumption slows down as weather gets colder. Moreover, market expects the imports of RBD palm olein in November to be as high as 650,000 tonnes. It is projected that palm oil stocks still carry the potential to rebound in later period.

II. Goods Arrivals

China is projected to bring in 800,000 tonnes of palm oil (RBD palm olein 650,000 tonnes and industrial palm oil 150,000 tonnes) in November, according to the latest statistics by Cofeed. And palm oil imports in December are expected to be 700,000 tonnes (RBD palm olein 550,000 tonnes and industrial palm oil 150,000 tonnes). Both are flat from the estimate last week.

III. Margins and Shipments