Today is 05/02/2024
I. National stocks
Edible palm oil stocks in China take a further dip this week as boatloads arrival remains low. In the week ending Apr 2, edible palm oil stocks in China total 419,300 tonnes at nationwide ports, down 4.57% from 439,400 tonnes last week; down 179,700 tonnes or 30% from 599,000 tonnes in the previous month; down 305,700 tonnes or 42.17% from 725,000 tonnes in the corresponding period last year. In the same period in former years, palm oil inventories were 762,200 tonnes in 2019, 689,100 tonnes in 2018 and 547,100 tonnes in 2017. On an average from 2016-2020, palm oil stocks reached 641,500 tonnes. Additionally, industrial palm oil stock at domestic ports amounts to 117,300 tonnes, a descent of 1,700 tonnes or 1.43% versus 119,000 tonnes in the previous week. Edible palm oil stockpiles will likely keep falling in the near term result from lower palm oil imports in April.
|
Region |
Edible Palm Oil Stocks（0'000 tonne） |
Industrial Palm Oil Stocks |
||||||
|
W13 |
W12 |
Change |
M-O-M |
Y-O-Y |
W13 |
W12 |
Change |
|
|
Tianjin Port |
5.3 |
6.9 |
-1.6 |
-40.45% |
-25.35% |
1.9 |
2 |
-0.1 |
|
Hebei |
1.13 |
1.47 |
-0.34 |
-38.92% |
13.00% |
0.07 |
0.03 |
0.04 |
|
Shandong Port |
0.87 |
0.9 |
-0.03 |
-64.49% |
-78.25% |
1.36 |
1.36 |
0 |
|
East China |
11.85 |
13.05 |
-1.2 |
-30.42% |
-48.81% |
5.15 |
5.1 |
0.05 |
|
Guangdong |
16.595 |
17.83 |
-1.235 |
-24.74% |
-45.18% |
3.05 |
3.18 |
-0.13 |
|
Guangxi |
3.435 |
2.89 |
0.545 |
-25.65% |
-10.31% |
0.2 |
0.23 |
-0.03 |
|
Fujian |
2.75 |
0.9 |
1.85 |
-8.33% |
-12.70% |
0 |
0 |
0 |
|
Total： |
41.93 |
43.94 |
-2.01 |
-30.00% |
-42.17% |
11.73 |
11.9 |
-0.17 |
II. Goods Arrivals
China’s palm oil imports in April are expected to be 400,000 tonnes (RBD palm olein 250,000 tonnes and industrial palm oil 150,000 tonnes), according to Cofeed’s latest statistics. In May, China is projected to bring in 450,000 tonnes of palm oil (RBD palm olein 300,000 tonnes and industrial palm oil 150,000 tonnes).
III. Margins and Shipments
|
Date |
Sailing Schedule |
CNF |
Duty Paid |
DCE |
Import Margin |
|
3/29/2021 |
May, 2021 |
987.5 |
7745 |
7508 |
-237 |
|
Jun, 2021 |
957.5 |
7512 |
6792 |
-720 |
|
|
Jul, 2021 |
912.5 |
7163 |
6792 |
-371 |
|
|
Aug, 2021 |
890 |
6988 |
6792 |
-196 |
|
|
Sep, 2021 |
872.5 |
6852 |
6792 |
-60 |
|
|
Oct-dec,2021 |
855 |
6717 |
6568 |
-149 |
|
|
3/30/2021 |
May, 2021 |
1010 |
7950 |
7402 |
-548 |
|
Jun, 2021 |
965 |
7599 |
6704 |
-895 |
|
|
Jul, 2021 |
925 |
7287 |
6704 |
-583 |
|
|
Aug, 2021 |
897.5 |
7073 |
6704 |
-369 |
|
|
Sep, 2021 |
875 |
6898 |
6704 |
-194 |
|
|
3/31/2021 |
May, 2021 |
970 |
7629 |
7326 |
-303 |
|
Jun, 2021 |
920 |
7240 |
6648 |
-592 |
|
|
Jul, 2021 |
890 |
7006 |
6648 |
-358 |
|
|
Aug, 2021 |
865 |
6812 |
6648 |
-164 |
|
|
Sep, 2021 |
852.5 |
6715 |
6648 |
-67 |
|
|
Oct-dec,2021 |
830 |
6539 |
6450 |
-89 |
|
|
4/1/2021 |
May, 2021 |
995 |
7834 |
7558 |
-276 |
|
Jun, 2021 |
950 |
7484 |
6838 |
-646 |
|
|
Jul, 2021 |
922.5 |
7269 |
6838 |
-431 |
|
|
Aug, 2021 |
895 |
7055 |
6838 |
-217 |
|
|
Sep, 2021 |
880 |
6938 |
6838 |
-100 |
|
|
Oct-dec,2021 |
857.5 |
6763 |
6644 |
-119 |
|
|
4/2/2021 |
Jul-Sep, 2021 |
890 |
7005 |
6874 |
-131 |
|
Date |
Cargoes |
Sailing Schedule |
CNF |
Duty Paid |
Qty. |
|
4/1/2021 |
3 |
Jul-Sep |
890 |
7201 |
3.6 |