Stock Comparison
Country : China | ||||||||||||
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Oils and Fats Ending Stocks | ||||||||||||
Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | |||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
January | 691,500 | 918,000 | 824,100 | 677,300 | - | - | 384,000 | 149,500 | - | - | 1,899,600 | 1,744,800 |
February | 533,600 | 943,400 | 781,700 | 596,900 | - | - | 384,000 | 200,500 | - | - | 1,699,300 | 1,740,800 |
March | 458,100 | 911,800 | 712,600 | 541,100 | - | - | 386,000 | 240,600 | - | - | 1,556,700 | 1,693,500 |
April | 385,800 | 762,400 | 725,400 | 631,900 | - | - | 372,000 | 359,600 | - | - | 1,483,200 | 1,753,900 |
May | 345,000 | 543,500 | 852,700 | 709,400 | - | - | 420,500 | 473,500 | - | - | 1,618,200 | 1,726,400 |
June | 325,100 | 453,200 | 890,800 | 891,200 | - | - | 404,000 | 452,400 | - | - | 1,619,900 | 1,796,800 |
July | 441,000 | 634,200 | 1,101,100 | 983,200 | - | - | 428,500 | 404,500 | - | - | 1,880,600 | 2,021,900 |
August | 540,900 | 627,500 | 1,023,100 | 976,300 | - | - | 422,000 | 430,400 | - | - | 1,986,000 | 2,034,200 |
September | 461,800 | 719,500 | 1,059,400 | 966,400 | - | 404,500 | 394,100 | - | 1,925,700 | 2,080,200 | ||
October | 867,100 | 877,400 | - | 367,500 | - | 2,112,000 | ||||||
November | 904,700 | 930,600 | - | 389,500 | - | 2,224,800 | ||||||
December | 852,100 | 907,700 | - | 410,000 | - | 2,169,800 |
Accumulated end-stock of 3 major vegetable oils in China charted its first drop in Sep’24, after ended its 4-month up trend started in May’24. The total stock declined by 3.0% or 60,300 MT m-o-m to reach 1.93 million MT, matched the 1.93 million MT average monthly stock recorded in 2023. Despite the drop, the stock level is still the 2nd highest in 2024 indicating the pressure from high stock on price remained significant. With the total import of these vegetable oils being lower y-o-y in Jan-Aug period in 2024, the poor demand remained as the major factor contributed to the stable high stock in current month.
The decline in total stock was mainly contributed by the sharp drop of PO stock in China during the month, which recorded a m-o-m decline of 14.6% or 79,100 MT. The end stock of 461,800 MT is considered high against the poorer monthly average demand for PO in 2024 against last year. For Jan-Aug period, average monthly PO consumption was estimated at only 340,426 MT, a far cry from 457,100 MT recorded in the same period in 2023. The consumption was affected by the high CPO price due to lower than expected global CPO output, as well as build-up of SBO stock in the country. This led to the situation where PL was being sold at a premium to SBO during half of the period in Jan-Aug 2024. This has largely deterred buyers from importing large volume of PO to replenish the stock, in anticipation that demand for PL is weaker due to the loss in price competitiveness.
In contrary, stock level of SBO continued its upward trends for the 6th consecutive months in Sep’24. The stock level was up by 3.5% or 36,300 MT and recorded at 1.06 million MT, which is also the 55-month recorded high level not seen since Feb 2020. The ongoing rise of SBO stock was due to the improved profit margin of swine farming since May’24, and the low SBM’s stock level in Apr’24 and May’24 triggered the higher crushing of soybean. This led to the higher output of SBO during this period but as highlighted earlier, the lower demand for oils & fats ultimately contributed to the built up of SBO stock.
Different from PO and SBO, stock of RSO declined for the 2nd consecutive month by 4.1% or 17,500 MT to 404,500 MT in Sep’24. Nevertheless, despite the drop, the current stock level is still 13.6% higher than the average monthly stock level recorded in 2023. The drop in stock level could be due to the lower crushing activities took place in Sep’24 against Aug’24, and compounded by forecasted lower RSO import during the month. However, rising PO price might have also led the switch to RSO during the month and contributed to the marginal lower stock in Sep’24.
Source: MPOC Market Intelligence
Stock figures will be updated no later than the 10th of every month
*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 | ||||||||||||
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Oils and Fats Ending Stocks | ||||||||||||
Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | |||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
January | 522,182 | 667,054 | 167,646 | 169,253 | 113,817 | 229,212 | - | - | - | - | 803,645 | 1,065,519 |
February | 410,068 | 623,359 | 68,523 | 113,401 | 146,068 | 194,138 | - | - | - | - | 624,659 | 930,898 |
March | 233,000 | 567,775 | 105,000 | 138,644 | 252,000 | 169,358 | - | - | - | - | 590,000 | 875,777 |
April | 305,000 | 448,951 | 123,000 | 132,989 | 175,000 | 175,111 | - | - | - | - | 603,000 | 756,960 |
May | 286,000 | 326,338 | 124,000 | 138,245 | 258,000 | 267,748 | - | - | - | - | 668,000 | 732,331 |
June | 295,000 | 387,948 | 111,000 | 231,114 | 307,000 | 174,656 | - | - | - | - | 713,000 | 793,718 |
July | 482,000 | 445,774 | 184,000 | 274,344 | 322,000 | 200,860 | - | - | - | - | 988,000 | 920,978 |
August | 412,000 | 758,003 | 228,000 | 291,994 | 401,000 | 281,153 | - | - | - | - | 1,041,000 | 1,331,150 |
September | 312,000 | 681,161 | 278,000 | 348,967 | 341,000 | 345,494 | - | - | 931,000 | 1,375,622 | ||
October | 464,129 | 260,621 | 222,473 | - | - | 947,223 | ||||||
November | 498,092 | 246,522 | 130,077 | - | - | 874,691 | ||||||
December | 548,281 | 173,597 | 133,489 | - | - | 855,367 |
During Sep’24, Indian edible oil port stocks are expected to decline to 931 KMT compared to around 1.04 MMT reported at the end of previous month. During this period, palm and soy oil stocks are anticipated to 310-320 KMT and 270-280 KMT meanwhile sun oil stocks are likely to dip towards 330-340 KMT. Decline in Indian edible oil imports during Sep’24 likely to tighten the stocks at ports. During Sep’24, India imported around 1.2-1.25 MMT. During this period, palm oil imports are likely to decline to 600-620 KMT whereas soft oil imports are expected to be around 630-640 KMT.
Source: MPOC Market Intelligence
Stock figures will be updated no later than the 10th of every month
*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 September 2024, the edible oil stocks at Port Qasim Authority (PQA) and Karachi Port Trust (KPT) have recorded a figure of 250,500 MT which is 3.2% higher than the closing stocks of the previous month. The closing stocks of September 2024 is also 48.7% lower than the closing stocks of September 2023.
In September, Pakistan imported 266,738 MT of oils and fats, a decrease of 13% compared to the previous month. This decline in imports can be attributed to delays in shipments that were scheduled for loading in September. These delays are primarily due to a lack of available cargo at Indonesian ports, which has pushed the loading of some sales into October.
Out of the total 250,500 MT of stocks available at Port Qasim Authority and Karachi Port, the stocks of RBD palm olein is showing the highest share of 48.3% followed by RBD palm oil 42.1%. Palm oil and its various fractions have a share of 90.4% in the total ending stocks.
Source: MPOC Market Intelligence
Stock figures will be updated no later than the 10th of every month
*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 | ||||||||||||
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Oils and Fats Ending Stocks | ||||||||||||
Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | |||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
January | 152,720 | 131,530 | 15,085 | 49,830 | - | - | - | - | - | - | 167,805 | 181,360 |
February | 107,290 | 138,870 | 10,320 | 54,900 | - | - | - | - | - | - | 117,610 | 193,770 |
March | 135,480 | 149,100 | 11,470 | 67,900 | - | - | - | - | - | - | 146,950 | 217,000 |
April | 129,480 | 138,960 | 28,290 | 79,520 | - | - | - | - | - | - | 157,770 | 218,480 |
May | 111,680 | 113,030 | 33,380 | 70,550 | - | - | - | - | - | - | 145,060 | 183,580 |
June | 118,420 | 91,540 | 56,820 | 62,760 | - | - | - | - | - | - | 175,240 | 154,300 |
July | 111,600 | 99,450 | 86,640 | 71,990 | - | - | - | - | - | - | 198,240 | 171,440 |
August | 146,780 | 102,170 | 52,610 | 44,077 | - | - | - | - | 7,000 | - | 206,390 | 146,247 |
September | 99,540 | 94,480 | 34,000 | 38,440 | - | - | - | 133,540 | 132,920 | |||
October | 134,230 | 55,220 | - | - | - | 189,450 | ||||||
November | 127,780 | 23,830 | - | - | - | 151,610 | ||||||
December | 160,090 | 26,850 | - | - | - | 186,940 |
In Sept 2024, Total Oil stocks increased by 0.466% compared to the same month in the previous year Sept 23 and showing 54.55 lower compared to the preceding month, Aug 2024. Palm oil (PO) stock saw a decline by 47.45% when compared its Aug 2024 levels, while soft oil stocks was seen declined by 54.73% during the same period.
Due to recent political unrest and changes of Government in Bangladesh the Oil imports have been impacted and may continue more times ahead.
Source: MPOC Market Intelligence
Due to unforeseen circumstances, stock figures for Bangladesh will be delayed
*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 | ||||||||||||
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Oils and Fats Ending Stocks | ||||||||||||
Palm Oil (MT) | Soybean Oil (MT)* | Sunflower Oil (MT)* | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT)* | |||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
January | 159,000 | 159,000 | 715,000 | 878,000 | 29,000 | 26,000 | 89,000 | 102,000 | 116,000 | 116,000 | 1,108,000 | 1,281,000 |
February | 159,000 | 159,000 | 718,000 | 878,000 | 29,000 | 26,000 | 85,000 | 102,000 | 126,000 | 116,000 | 1,113,000 | 1,281,000 |
March | 159,000 | 159,000 | 738,000 | 878,000 | 29,000 | 26,000 | 81,000 | 131,000 | 130,000 | 116,000 | 1,137,000 | 1,310,000 |
April | 159,000 | 159,000 | 836,000 | 878,000 | 34,000 | 26,000 | 84,000 | 131,000 | 126,000 | 116,000 | 1,239,000 | 1,310,000 |
May | 159,000 | 159,000 | 829,000 | 831,000 | 34,000 | 29,000 | 84,000 | 120,000 | 126,000 | 116,000 | 1,232,000 | 1,255,000 |
June | 159,000 | 159,000 | 806,000 | 833,000 | 34,000 | 29,000 | 86,000 | 94,000 | 126,000 | 116,000 | 1,211,000 | 1,231,000 |
July | 159,000 | 159,000 | 806,000 | 831,000 | 34,000 | 29,000 | 86,000 | 79,000 | 126,000 | 116,000 | 1,211,000 | 1,214,000 |
August | 159,000 | 159,000 | 811,000 | 826,000 | 34,000 | 29,000 | 80,000 | 86,000 | 126,000 | 116,000 | 1,210,000 | 1,216,000 |
September | 159,000 | 788,000 | 29,000 | 87,000 | 116,000 | 1,179,000 | ||||||
October | 159,000 | 715,000 | 29,000 | 79,000 | 116,000 | 1,098,000 | ||||||
November | 159,000 | 715,000 | 29,000 | 80,000 | 116,000 | 1,099,000 | ||||||
December | 159,000 | 715,000 | 29,000 | 90,000 | 116,000 | 1,109,000 |
US ending stock reported a total of 1,210,000 MT for August 2024, declining by 0.08% when compared to the amount in July 2024. Soybean oil endstock increased by 0.62% while rapeseed oil endstock decreased by 6.98%. No changes were recorded for the endstock of palm oil and sunflower oil. Surplus soybean supply expectations sent prices of U.S. soybeans lower than soybeans in Brazil and Argentina for the first time since December 2022. Robust supplies and lower prices triggered higher sales of U.S. soybeans. These factors coupled with concerns about weather at harvest in the Northern Hemisphere and planting conditions in the Southern Hemisphere have led to a rebound in prices by the end of the month. Soybean meal prices declined along with soybean prices. Competitive prices of U.S. soybean meal have resulted in 10‐year highs for U.S. export sales. Prices of U.S. soybean oil remained low last month due to weaker demand and competition from other vegetable oils and biofuels feedstocks including used cooking oil. Prices of soybean oil in Argentina have dropped due to seasonally large crush volumes. EU and Black Sea rapeseed and sunflower complex prices have risen due to a lower production outlook.
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.