Today is 03/28/2024

China’s Palm Oil Stocks and Arrivals Weekly (Week 15, 2021)

2021-04-19 www.cofeed.com

I. National stocks

 

China’s edible palm oil stocks in China fall again due to a reduction in palm oil cargoes arriving this week. In the week ending Apr 16, edible palm oil stocks in China total 420,800 tonnes at nationwide ports, down 3.96% from 460,400 tonnes last week; down 76,500 tonnes or 15.38% from 497,300 tonnes in the previous month; down 185,100 tonnes or 30.55% from 605,900 tonnes in the corresponding period last year. In the same period in former years, palm oil stockpiles were 745,900 tonnes in 2019, 733,800 tonnes in 2018 and 569,600 tonnes in 2017. On an average from 2016-2020, palm oil stocks reached 620,900 tonnes. Additionally, industrial palm oil stock at domestic ports amounts to 136,100 tonnes, a growth of 31,000 tonnes or 29.5% versus 105,100 tonnes in the previous week.

 

Region
/Port

Edible Palm Oil Stocks0'000 tonne

Industrial Palm Oil Stocks

W15

W14

Change

M-O-M

Y-O-Y

W15

W14

Change

Tianjin Port

5.85

7.4

-1.55

-31.34%

-25.76%

2.4

1.9

0.5

Hebei

1.15

1.22

-0.07

-7.26%

91.67%

0.05

0.08

-0.03

Shandong Port

1.37

1.655

-0.285

24.55%

0.74%

2.02

1.17

0.85

East China

12.45

12.43

0.02

-17.28%

-42.09%

5.6

4.3

1.3

Guangdong

16.98

17.375

-0.395

-9.10%

-29.22%

3.39

2.95

0.44

Guangxi

1.88

2.66

-0.78

-47.63%

-44.05%

0.15

0.11

0.04

Fujian

2.4

3.3

-0.9

54.84%

26.32%

0

0

0

Total

42.08

46.04

-3.96

-15.38%

-30.55%

13.61

10.51

3.1

 

 

II. Goods Arrivals

 

China’s palm oil imports in April are expected to be 480,000 tonnes (RBD palm olein 330,000 tonnes and industrial palm oil 150,000 tonnes), according to Cofeed’s latest statistics. In May, China is projected to bring in 580,000 tonnes of palm oil (RBD palm olein 430,000 tonnes and industrial palm oil 150,000 tonnes). Both are unchanged from the prior estimates.

 

III. Margins and Shipments

 

Date

Sailing Schedule

CNF
USD/tonne

Duty Paid
(CNY/tonne)

DCE
(CNY/tonne)

Import Margin

4/12/2021

Jul, 2021

920

7232

6716

-516

Aug, 2021

889

6991

6716

-275

Sep, 2021

869

6836

6716

-120

Oct-dec,2021

845

6649

6454

-195

4/13/2021

Jul-Sep,2021

875

6877

6774

-103

Oct-dec,2021

840

6605

6494

-111

4/14/2021

May, 2021

1050

8222

7560

-662

Jun, 2021

980

7680

6822

-858

Jul-Sep,2021

882.5

6924

6822

-102

4/15/2021

Jul-Sep,2021

900

7059

6916

-143

Oct-dec,2021

860

6749

6658

-91

4/16/2021

Jul-Sep,2021

920

7203

7096

-107