Stock Comparison
| Country : China | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oils and Fats Ending Stocks | ||||||||||||
| Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | |||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2024 | 2026 | 2025 | |
| January | 709,200 | 418,900 | 883,300 | 757,300 | - | - | 242,000 | 551,000 | - | - | 1,834,500 | 1,727,200 |
| February | 356,000 | 816,200 | - | - | 683,500 | - | - | 1,855,700 | ||||
| March | 322,500 | 740,200 | - | - | 791,500 | - | - | 1,854,200 | ||||
| April | 343,000 | 579,600 | - | - | 814,000 | - | - | 1,736,600 | ||||
| May | 330,400 | 689,900 | - | - | 781,500 | - | - | 1,801,800 | ||||
| June | 463,800 | 837,900 | - | - | 747,000 | - | - | 2,048,700 | ||||
| July | 585,500 | 989,300 | - | - | 673,000 | - | - | 2,247,800 | ||||
| August | 591,200 | 1,146,600 | - | - | 664,000 | - | - | 2,401,800 | ||||
| September | 543,100 | 1,178,300 | - | - | 583,000 | - | - | 2,304,400 | ||||
| October | 561,800 | 1,149,200 | - | - | 514,000 | - | - | 2,225,000 | ||||
| November | 643,000 | 1,123,300 | - | - | 368,000 | - | - | 2,134,300 | ||||
| December | 704,300 | 988,100 | - | - | 291,000 | - | - | 1,983,400 | ||||
Total stock of 3 major vegetable oils in China showed an increase of 6.2% or 107,300 MT to 1.83 million MT from 1.73 million MT last year, driven mainly by the growth of SBO and PO. While RSO stocks decreased by 56.1% to almost three- year low of 242,000 MT.
China's PO inventories registered at 709,200 MT as of late January 2026, reflecting a historically high level for the season. Stocks showed a modest monthly gain of 0.7%, or 4,900 MT, but were substantially higher by 69.3% year-on-year, an increase of 290,300 MT. The ample supply has continued to curb downstream demand for high-priced palm products, keeping overall market activity subdued. Ahead of the China's Lunar New Year holiday, imports of palm products are expected to remain elevated to meet seasonal stocking demand.According to official data from the National Food and Strategic Reserves Administration, the country's PO imports for Jan'26 are projected at 360,000 MT. This volume exceeds the 2025 monthly average of 275,700 MT, underscoring the robust import pace leading into the festive period.
Faced with poor crushing margins and an earlier China's Spring Festival procurement cycle, Chinese oilseed processors advanced their maintenance schedules this year. Approximately 13% of imported soybean crushing facilities began winding down before Jan'26, with another 5% halting in January, which driving down SBO output. Coupled with steady pre-holiday demand, it reduced inventories further. As of Jan 30, 2026, SBO stocks stood at 883,300 MT, down 10.6% m-o-m. Despite the drawdown, stocks remain historically high for the period, up 126,000 MT (16.6%) year-on-year, indicating a continued domestic surplus.
China's RSO stocks have continued to decline in contrast to the ample supplies of PO and SBO. This drawdown is attributed to a combination of constrained supply and robust demand. On the supply side, import volumes of RSO remained low since Q4 2025 due to the ongoing Canada-China trade friction. Meanwhile, strong prices for substitute vegetable oils like SBO and PO have enhanced RSO's cost competitiveness, boosting its demand. The inventory draw was further accelerated by concentrated pre-Spring Festival restocking activity in January, as end-users across the catering and food processing sectors increased consumption.
Source: MPOC Market Intelligence
*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.
| Country : India | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oils and Fats Ending Stocks | ||||||||||||
| Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | |||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |
| January | 486,000 | 310,000 | 190,000 | 330,000 | 185,000 | 268,000 | 3,000 | - | - | - | 864,000 | 908,000 |
| February | 408,000 | 237,000 | 195,000 | - | - | 840,000 | ||||||
| March | 335,000 | 225,000 | 260,000 | - | - | 700,000 | ||||||
| April | 265,000 | 135,000 | 300,000 | - | - | 720,000 | ||||||
| May | 290,000 | 175,000 | 285,000 | - | - | 750,000 | ||||||
| June | 340,000 | 180,000 | 220,000 | - | - | 740,000 | ||||||
| July | 445,000 | 250,000 | 250,000 | - | - | 945,000 | ||||||
| August | 535,000 | 215,000 | 210,000 | 6,000 | - | 966,000 | ||||||
| September | 540,000 | 290,000 | 195,000 | 4,000 | - | 1,029,000 | ||||||
| October | 570,000 | 270,000 | 160,000 | 3,000 | - | 1,003,000 | ||||||
| November | 627,000 | 265,000 | 125,000 | 6,000 | - | 1,023,000 | ||||||
| December | 456,000 | 300,000 | 200,000 | 5,000 | - | 961,000 | ||||||
In January 2026, India’s total edible oil stocks at ports declined to 864 KMT, down from 961 KMT in December, marking a 10.09% month-on-month decrease. The easing reflects a gradual normalization of inventories following several months of heavy imports, with cumulative arrivals exceeding 1.5 MMT during May–October 2025 and 1.3 MMT during November 2025–January 2026.
Palm oil stocks increased by 6.58% month-on-month to 486 KMT from 456 KMT in December. On a year-on-year basis, palm oil inventories remained 56.77% higher, indicating adequate availability. The increase was primarily driven by higher January imports, which rose to 757 KMT, as refiners stepped up purchases ahead of the festive season.
In contrast, soybean oil stocks declined sharply by 36.67% month-on-month to 190 KMT, reflecting lower January imports of 278 KMT and ongoing stock liquidation. Sunflower oil stocks fell by 7.5% month-on-month to 185 KMT, mainly due to stock clearance.
Overall, January reflected a shift in the stock composition. Higher palm oil imports and steady inflows of soybean and sunflower oils altered the inventory mix. While total stocks declined, current levels remain comfortable, providing adequate supply cover heading into February 2026. Pipeline stocks, considering domestic production and consumption, are estimated at approximately 885,000 tons.
Source: MPOC Market Intelligence
*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.
At the end of January 2026, the edible oil stocks at Port Qasim Authority (PQA) and Karachi Port Trust (KPT) have recorded a figure of 515,450 MT which is 13.2% higher than the closing stocks of the previous month. The closing stocks of January 2026 is 56.2% higher than the closing stocks of January 2025.
In January 2026, Pakistan’s imports of oils and fats totalled 430,371 MT, an increase of just 0.7% from December 2025 levels, reflecting a largely unchanged import pace. The steady import volumes underscored continued market confidence, with importers maintaining coverage amid expectations of firmer prices in the first quarter of 2026. Advance purchasing strategies adopted in prior months ensured adequate stocks at port and in the pipeline, reducing the need for significant adjustments to monthly import volumes while supporting stable supply availability.
Out of the total 515,450 MT of stocks available at Port Qasim Authority and Karachi Port, the stocks of RBD palm olein is showing the highest share of 53.1% followed by RBD palm oil 43.8%. Palm oil and its various fractions have a share of 100% in the total ending stocks.
Source: MPOC Market Intelligence
*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.
| Country : Bangladesh | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oils and Fats Ending Stocks | ||||||||||||
| Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | |||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |
| January | 115,950 | 67,100 | 45,042 | 15,740 | - | - | - | - | - | - | 160,992 | 82,840 |
| February | 118,750 | 40,900 | - | - | - | 159,650 | ||||||
| March | 89,510 | 45,030 | - | - | - | 134,540 | ||||||
| April | 78,500 | 57,710 | - | - | - | 136,210 | ||||||
| May | 52,400 | 72,400 | - | - | - | 124,800 | ||||||
| June | 68,720 | 46,450 | - | - | - | 115,170 | ||||||
| July | 90,330 | 39,010 | - | - | - | 129,340 | ||||||
| August | 81,900 | 36,500 | - | - | - | 118,400 | ||||||
| September | 97,650 | 7,100 | - | - | - | 104,750 | ||||||
| October | 109,860 | 32,800 | - | - | - | 142,660 | ||||||
| November | 90,560 | 44,240 | - | - | - | 134,800 | ||||||
| December | 111,760 | 16,110 | - | - | - | 127,870 | ||||||
In January 2026, Bangladesh’s total edible oil stocks recorded a 94.34% year-on-year increase compared to January 2025, indicating a significantly stronger supply position at the start of 2026. Stocks were also 25.90% higher on a month-on-month basis compared to December 2025, reflecting continued inventory accumulation. Palm oil stocks increased by 72.80% year-on-year and were 3.75% higher than December 2025, as refiners added inventories in anticipation of upcoming festive and wedding season demand. In contrast, soft oil stocks rose sharply by around 186% year-on-year, driven by higher import arrivals in the preceding months. The elevated stock position observed in January 2026 reflects proactive procurement by refiners to ensure supply continuity and manage seasonal demand expectations.
Source: MPOC Market Intelligence
*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.
| Country : USA | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oils and Fats Ending Stocks | ||||||||||||
| Palm Oil (MT) | Soybean Oil (MT)* | Sunflower Oil (MT)* | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT)* | |||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |
| January | 159,000 | 159,000 | 795,000 | 694,000 | 29,000 | 26,000 | 57,000 | 55,000 | 121,000 | 126,000 | 1,161,000 | 1,060,000 |
| February | 159,000 | 694,000 | 23,000 | 56,000 | 126,000 | 1,058,000 | ||||||
| March | 159,000 | 694,000 | 23,000 | 55,000 | 126,000 | 1,057,000 | ||||||
| April | 159,000 | 658,000 | 23,000 | 55,000 | 126,000 | 1,021,000 | ||||||
| May | 159,000 | 694,000 | 29,000 | 56,000 | 126,000 | 1,064,000 | ||||||
| June | 159,000 | 694,000 | 29,000 | 57,000 | 126,000 | 1,065,000 | ||||||
| July | 159,000 | 758,000 | 29,000 | 64,000 | 126,000 | 1,136,000 | ||||||
| August | 159,000 | 781,000 | 29,000 | 64,000 | 126,000 | 1,159,000 | ||||||
| September | 159,000 | 787,000 | 29,000 | 81,000 | 126,000 | 1,182,000 | ||||||
| October | N/A | N/A | N/A | N/A | N/A | N/A | ||||||
| November | 159,000 | 783,000 | 29,000 | 81,000 | 126,000 | 1,178,000 | ||||||
| December | 159,000 | 783,000 | 29,000 | 81,000 | 126,000 | 1,178,000 | ||||||
In Brazil, soybean harvesting has started, mainly in Mato Grosso, and the country is on track for a record crop of 180 million MT, which should bring strong export flows and ease global supply concerns. However, exports have been slower than expected because persistent rainfall has delayed harvesting in some areas and created logistical bottlenecks, while high inland transport costs have also reduced the pace of farmer selling.
At the same time, Argentina is facing a very different situation. Roughly 30% of early-planted soybean areas, especially in Buenos Aires and Cordona, are suffering from low soil moisture during the critical flowering and pod-filling stages. This dryness has already reduced soybean crushing, tightening supplies of soybean oil. The combination of delayed Brazilian exports and reduced Argentina processing has pushed soybean oil prices higher. However, this is expected to ease later in the season, as markets anticipate that Argentine crushing will increase from April onward when new supplies become available, leading to improved soybean oil output.
US soybean oil prices strengthened notably in January, driven by a weaker US dollar and expectation of higher domestic demand once new US biofuel mandates are announced. Despite this price rally, US soybean oil exports remain weak and uncompetitive compared with South American origins, with total export nearly 50% lower than the year before.
Source: *USDA, MPOC Estimates
*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.