Monthly Stock Comparison 2021

Monthly Stock Comparison 2020

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)
 202120202021202020212020202120202021202020212020
January732,0001,024,200674,800762,500165,900297,4001,572,9002,084,100
February 1,053,100 1,092,000  300,600  2,445,700
March 878,800 952,800  262,800  2,094,400
April 607,000 700,200  146,800  1,454,000
May 527,100 735,200  179,300  1,441,600
June 482,900 884,000  172,500  1,539,400
July 428,400 998,900  199,600  1,626,900
August 479,100 1,057,800  176,500  1,713,400
September 409,500 1,056,600  224,200  1,690,300
October 470,500 1,022,200  221,100  1,713,800
November 600,500 900,100  157,400  1,658,000
December 714,000 752,900  124,500  1,591,400

Total stock level of 3 major vegetable oils in China recorded 3rd consecutive monthly drop in Jan 2021 but with slower pace at 1.2% m-o-m.  Among the 3 oils, only PO & SBO stock continue respective upwards & downward trend , while stock level of RSO reversed the drop and recorded an increase in Jan 2021.

The upward trend of PO stock in China in the winter period has been a norm where the import of PO in December will usually surge, while consumption at the same time is low. The low consumption period will last until March and hence, stock level will always grow during this period.   With the import margin turned negative since November 2020, the large arrival was mainly those shipments where contract signed earlier but delivery was scheduled in December and some may also spilled over to Jan 2021. This explain the reason why the stock has increased despite the favourable discount of RBD PL against SBO which remained high at average of RMB1,482.50 in Jan 2021, where demand of RBD PL should be stronger.

The further decline of SBO stock in Jan 2021 by 10.4% was mainly due to the slowdown in soybean crushing activities. Based on the data collected, the soybean crushing activities slowdown from 10.2 mil MT in Nov 2020 to 7.7 mil MT in December 2020. The crushing activities may see further slowdown in Jan 2021 as the demand for animal feed has slowed due to the decline in livestock inventory. The decline was mainly due to higher number of livestock being slaughtered to cater the growing demand for meat for upcoming CNY celebration.  Since the output of SBO has dropped, the supply-demand gap has to be supplemented by using the stock and this led to the drop in SBO stock by end Jan 2021.

In contrary, stock of RSO witnessed a significant growth of 33.3% in Jan 2021. This could be attributed to the crushing activities which has increased in December 2020 and led to higher RSO output, but the demand of RSO remain not so strong due to its high price.  This situation may remain at least in first half of 2021 as the global supplies of rapeseed could only recover in Apr when the harvest of rapeseed in northern hemisphere take place.

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
Oils and Fats Ending Stocks
 Palm Oil (MT)Soybean Oil (MT)Sunflower Oil (MT)Rapeseed Oil (MT)Other Oils (MT)Total Ending Stocks (MT)
 202120202021202020212020202120202021202020212020
January401,695657,547118,327153,082175,553191,37141695,5751,002,041
February 672,605 234,376 233,285 1,552  1,141,818
March 533,094 237,014 248,085 2,015  1,020,208
April 497.435 119,136 251,697 452  868,720
May 315,101 99,678 173,397 1,075  589,251
June 330,207 100,256 183,899 173  615,535
July 460,302 147,634 198,013   805,949
August 420,613 206,444 178,975   806,032
September 304,957 210,691 81,048 16,552  613,248
October 353,361 151,280 93,783 7,640  606,064
November 303,123 171,356 141,032 1,232  616,743
December 376,317 142,401 157,091 15  675,824

January 2021 stocks are 31% lower than Jan 2020 but 3% higher than the previous month. Jan imports of POP was affected by the high level of imports in Dec 2020 due to anticipation of higher export duties/levies in Jan ’21 in both Malaysia/Indonesia. Good Rabi crop is expected soon. At expected higher production levels, this is expected to further dampen imports. Whilst POP stocks rose 7% compared to Dec 2020, Soft Oils stocks fell by 2%. Though POP stocks have risen by 7%, POP imports are estimated to have decreased due to above duty factor.

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 : Pakistan
Oils and Fats Ending Stocks
 Palm Oil (MT)Soybean Oil (MT)Sunflower Oil (MT)Rapeseed Oil (MT)Other Oils (MT)Total Ending Stocks (MT)
 202120202021202020212020202120202021202020212020
January321,802373,6307,000321,802370,630
February 417,170 3,300 420,470
March 380,270 100 380,370
April 316,405  316,405
May 298,750 17,500 316,250
June 275,180 3,800 278,980
July 264,000 33,000 297,000
August 277,985 17,750 295,735
September 224,376 33,250 257,626
October 171,935 14,800 186,735
November 207,260 4,800 212,060
December 286,380  286,380

At the end of January 2021, the edible oil stocks at Port Qasim Authority (PQA) and Karachi Port Trust (KPT) have recorded a figure of 321,802 MT which is 11.01% higher than the closing stocks of the previous month. Out of the total 321,802 MT of stocks available at Port Qasim Authority and Karachi Port, the stocks of palm olein is showing the highest share of 48.93% followed by RBD palm oil 33.26% and CPO 11.03%. Palm oil and its various fractions have a share of 100% in the total ending stocks.

The higher arrivals of oils and fats in the last 4 consecutive months have stabilized the stocks level in Pakistan and has provided a cushion in the local market. The local market of oils and fats is currently trading at a discount which is due to the higher than average stocks and profit taking activity by the traders. It is anticipated that the arrivals in the month of February will be in the range of 300,000 MT which will maintain the current stock level in the country in this quarter.

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
Oils and Fats Ending Stocks
 Palm Oil (MT)Soybean Oil (MT)Sunflower Oil (MT)Rapeseed Oil (MT)Other Oils (MT)Total Ending Stocks (MT)
 202120202021202020212020202120202021202020212020
January5,42988,77363,37377,9722,98568,802169,730
February 74,392 37,740 2,984   115,116
March 116,480 93,896 2,984   213,360
April 115,809 84,217 2,984   203,010
May 110,466 16,837 485   127,788
June 74,344 61,468 485   136,297
July 68,911 112,140 485   181,536
August 37,501 114,885 485   152,871
September 33,072 105,929 485   139,486
October 34,906 106,267 485   141,658
November 3,669 102,312 485   106,466
December 30,442 115,817    146,259

In Jan. 2021, total import quantity of oils and fats was 102,208 tonnes, which was about 63% lower compared to Jan. 2020. Import quantity of RBD PL in Jan. 2021 was 30,900 tonnes, which witnessed a significant decline by about 71% compared to the corresponding month of 2020. Import quantity of RBD PO was 10,000 tonnes, which registered 100% growth. .There was no import of CPO and CPL in Jan. 2021. There was no import of CDSBO and sunflower seed oil in Jan. 2021. Import quantity of rapeseed/canola oil was 29,091 tonnes, oil equivalent of imported seed @ 38% oil extraction, against zero import in Jan. 2020.    

In Jan. 2021, total 131,510 of CDSBO and palm oil have been lifted from the bonded tanks facilities, which was about 12.90% lower compared to Dec. 2020. Out of the total lifting quantity, about 50.12% (65,913 tonnes) was palm oil comprises of RBD PO and RBD olein and rest 49.88% (65,597 tonnes) was CDSBO.

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 : 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)*
 202120202021202020212020202120202021202020212020
January170,000155,000823,000689,00034,00038,300106,00072,300113,00055,4001,2460001,010,000
February 161,500 690,000 27,000 82,000 79,500 1,040,000
March 168,000 830,000 25,000 73,000 54,000 1,150,000
April 160,000 853,000 27,000 83,000 107,000 1,230,000
May 164,500 880,000 23,000 85,000 97,500 1,250,000
June 160,000 916,000 24,000 66,000 114,000 1,280,000
July 178,000 935,000 34,000 65,000 98,000 1,310,000
August 160,000 941,000 33,000 64,000 22,000 1,220,000
September 171,000 844,000 28,000 75,000 112,000 1,230,000
October 165,000 796,000 31,000 61,000 237,000 1,290,000
November 160,000 857,000 34,000 87,000 113,000 1,251,000
December 160,000 857,000 34,000 87,000 113,000 1,251,000

US ending stocks reported a total of 1,246,000 MT for January 2021 which is 0.4% lower than the ending stocks of the previous month of December 2020. From that amount, palm oil closing stock recorded an increase of 6.3%%, soybean oil decreased by 3.9%, sunflower oil no changes, and rapeseed oil increased by 21.8%, when compared to the amount from the previous month. The United States exported $28.75 billion of agricultural goods and related products to China in 2020, the world’s biggest soybean importer, according to USDA, missing the $36.5 billion targeted under the Phase 1 trade deal. US soybean futures ended lower in the first week of February on expectations of high export demand eating and tightening soybean stocks. In Brazil, rain has slowed the soybean harvest, but forecasters still expect bumper crops.

Source: *USDA, MPOC Estimates

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.

Stay In Touch

Stay In Touch