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) | |||||||
| 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 | 440,400 | 867,100 | 1,028,500 | 877,400 | - | 403,000 | 367,500 | - | 1,871,900 | 2,112,000 | ||
| November | 904,700 | 930,600 | - | 389,500 | - | 2,224,800 | ||||||
| December | 852,100 | 907,700 | - | 410,000 | - | 2,169,800 | ||||||
Total stock of 3 major vegetable oils in China ended lower for the 2nd consecutive month in October 2024, with an m-o-m 2.8% or 53,800 MT drop against last month. Nevertheless, the stock of 1.87 million MT remains the 5th highest level in 2024 and higher than the average monthly stock recorded in 2024 at 1.75 million, contributed mainly by the slowdown in demand impacted by the economic situation in China. The month also witnessed the concurrent drop in stocks for all 3 major oils in China after last seen in Jan 2024.
The declining stock level continued led by the decrease in PO stock in China during the month, which recorded a m-o-m decline of 4.6% or 21,400 MT. Despite being lower by more than 250,000 MT from the peak stock level in 2024, the end stock of 440,400 MT in Oct’24 is still considered high, which may cause further slowdown in PO import. As of end Sep’24, total 2024 YTD import of PO dropped 31.6% or 1.26 million MT y-o-y, due to the high stock at the beginning of the year, and also the loss of price competitiveness of PO against SBO this year. Coupled with the uncertainty of economic situation in China, the stock level may remain high unless the import drop further in coming months.
Being the largest oil consumed in China, SBO’s stock level also remained at high level by the end of Oct’24, despite witnessing a 2.9% drop against Sep’24. The 1.03 million MT stock is the 2nd highest stock level in 2024 and 27.3% higher than the average monthly stock level of SBO in 2023! The ongoing high 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.
Similar to PO and SBO, stock of RSO also declined in Oct’24, but was for the 3rd consecutive month by only 0.4% or 1,500 MT to 403,000 MT. Nevertheless, despite the drop, the current stock level is still 13.3% higher than the average monthly stock level recorded in 2023. The drop in stock level could be due to the further decline of crushing activities in Oct’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 Oct’24.
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) | |||||||
| 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 | 303,000 | 464,129 | 211,000 | 260,621 | 199,000 | 222,473 | - | - | 713,000 | 947,223 | ||
| November | 498,092 | 246,522 | 130,077 | - | - | 874,691 | ||||||
| December | 548,281 | 173,597 | 133,489 | - | - | 855,367 | ||||||
During Oct’24, Indian edible oil port stocks are expected to decline to 713 KMT compared to around 931 KMT reported at the end of previous month. During this period, palm and soy oil stocks are anticipated to 290-305 KMT and 210-215KMT respectively meanwhile sun oil stocks are estimated to be 200 KMT. Festive demand led to a decline in port stocks during Oct’24. During Oct’24, India placed an order for around 1.25-1.3 MMT with major imports in palm oil of 840,000 tonnes.
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 October 2024, the edible oil stocks at Port Qasim Authority (PQA) and Karachi Port Trust (KPT) have recorded a figure of 148,766 MT which is 40.6% lower than the closing stocks of the previous month. The closing stocks of October 2024 is also 73.1% lower than the closing stocks of October 2023.
In October, Pakistan imported 237,896 MT of oils and fats, a decrease of 11% compared to the previous month. The drop in imports is primarily attributed to the high prices of edible oils, which have reduced the imports and led to increased usage of existing stocks, resulting in lower domestic stock levels at ports. Additionally, delays in shipments, due to limited cargo availability at Indonesian ports, further contributed to the decline. However, gradual improvement in imports is anticipated in the coming months, despite ongoing high prices.
Out of the total 148,766 MT of stocks available at Port Qasim Authority and Karachi Port, the stocks of RBD palm olein is showing the highest share of 43.0% followed by RBD palm oil 35.0%. Palm oil and its various fractions have a share of 85.7% 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) | |||||||
| 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 | 89,100 | 134,230 | 25,380 | 55,220 | - | - | 2,000 | - | 114,480 | 189,450 | ||
| November | 127,780 | 23,830 | - | - | - | 151,610 | ||||||
| December | 160,090 | 26,850 | - | - | - | 186,940 | ||||||
In Oct 2024, Total Oil stocks declined by 66.21% compared to the same month in the previous year Oct 23 and showing 17.16% lower compared to the preceding month, September 2024. Palm oil (PO) stock saw declined by 12.50% when compared it’s to Sept 2024 levels, while soft oil stocks seen declined by 8.33% during the same period.
In Oct 2024, total 180,445 tonnes of CDSBO and palm oil were lifted from the bulk storage terminals of which 123,980 tonnes i.e 68.71% was palm oil and rest 56,555 tonnes i.e. 31.29% was CDSBO
Due to recent political unrest and changes of Govt 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 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 159,000 | 811,000 | 788,000 | 29,000 | 29,000 | 75,000 | 87,000 | 126,000 | 116,000 | 1,200,000 | 1,179,000 |
| October | 159,000 | 159,000 | 697,000 | 715,000 | 26,000 | 29,000 | 64,000 | 79,000 | 126,000 | 116,000 | 1,072,000 | 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 1,072,000 MT for October 2024, declining by 10.7% when compared to the amount in September 2024. Soybean oil endstock decreased by 14.1%, sunflower oil endstock decreased by 10.3% while rapeseed oil endstock decreased by 14.7%. No changes were recorded for the endstock of palm oil. US soybean oil export sales jumped due to large price discounts as compared to the Brazilian and South American origins. India became the biggest buyer followed by Colombia, the Dominican Republic and Algeria. US is benefitting from reduced Brazilian export supplies which are offered at less competitive price. Export of Brazilian soybeans declined with reduced purchases from China. Meanwhile, exports of Brazilian soymeal increased sharply following large purchases from EU-27 in anticipation of the EUDR which had initially been scheduled to be implemented in early 2025. Brazilian soybean oil import increased owing to higher usage as feedstock in biodiesel production. Argentine soybean crushing recently benefitted from high farmers' sell and large soybean imports from Paraguay.
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.