Monthly Stock Comparison 2021
| 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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| January | 732,000 | 1,024,200 | 674,800 | 762,500 | – | – | 165,900 | 297,400 | – | – | 1,572,900 | 2,084,100 |
| February | 739,200 | 1,053,100 | 728,900 | 1,092,000 | – | – | 162,800 | 300,600 | – | – | 1,630,900 | 2,445,700 |
| March | 548,800 | 878,800 | 617,800 | 952,800 | – | – | 188,600 | 262,800 | – | – | 1,355,200 | 2,094,400 |
| April | 507,800 | 607,000 | 626,400 | 700,200 | – | – | 219,400 | 146,800 | – | – | 1,353,600 | 1,454,000 |
| May | 447,900 | 527,100 | 744,200 | 735,200 | – | – | 325,400 | 179,300 | – | – | 1,517,500 | 1,441,600 |
| June | 341,500 | 482,900 | 842,200 | 884,000 | – | – | 354,900 | 172,500 | – | – | 1,538,600 | 1,539,400 |
| July | 339,100 | 428,400 | 903,600 | 998,900 | – | – | 418,000 | 199,600 | – | – | 1,660,700 | 1,626,900 |
| August | 450,300 | 479,100 | 850,100 | 1,057,800 | – | – | 423,100 | 176,500 | – | – | 1,723,500 | 1,713,400 |
| September | 398,300 | 409,500 | 826,300 | 1,056,600 | – | – | 413,600 | 224,200 | – | – | 1,638,200 | 1,690,300 |
| October | 490,400 | 470,500 | 790,700 | 1,022,200 | – | – | 387,200 | 221,100 | – | – | 1,668,300 | 1,713,800 |
| November | 559,400 | 600,500 | 761,900 | 900,100 | – | – | 307,100 | 157,400 | – | – | 1,628,400 | 1,658,000 |
| December | 577,500 | 714,000 | 714,600 | 752,900 | – | – | 308,800 | 124,500 | – | – | 1,600,900 | 1,591,400 |
The accumulated stock of the 3 major vegetable oils in China registered a marginal drop for second consecutive months by end of December 2021. The m-o-m drop of 1.7% or 27,500 MT against November was mainly due to the decline in SBO stock by 47,300 MT, while PO stock didn’t rise as much as expected but only by 18,100 MT, against the 60,000-100,000 MT recorded in past years.
Although the end December’s PO stock rose for the 2nd consecutive months, and also a traditional month that see PO stock increase in China, the increase was surprisingly low as compared to the previous years. Despite the unavailability of official import statistic, the low increase in PO stock by end December 2021 was a reflection of lower than expected import of PO in the same month, which may be only at par against November import volume. This could be due to the constant high prices not only witnessed on PO but also all the major vegetable oils which have all charted record high in 4Q 2021. As such, many users as well as importers were more cautious in stocking up oils due to foreseeing low demand, and subsequently led to lower import.
The drawdown of SBO stock level in China in December 2021 continue to see SBO being a preferred vegetable oil in winter due to its physical properties that allow users/manufacturers to use it without having it being heated before using. Although the slowdown in soybean crushing activities in the last month of the year has led to the lower than expected SBO being produced in December 2021, the slowdown in overall oils & fats demand that has hit PO demand also spilled over to SBO industry. This saw the decline of SBO stock only recorded at less than 50,000 MT as compared to the 130,000-180,000 MT drop recorded in past 3 years. The other reason for the lower than expected drop in SBO stock might be due to the higher SBO import in December as compared to November 2021 at record low of less than 5,000 MT. The recovery in SBO import to normal level boosted the stock level and limit the drop by the end of the month.
Similar to SBO, the demand for RSO will also be relatively higher in winter. However, the high prices has also led some users to slow down the consumption. Hence, despite the lower global rapeseed output this year, which led rapeseed crushed volume dropped by estimated 11.7% in Jan-Nov against the same period last year, the end stock level of RSO in China almost unchanged M-o-M in December 2021. Nevertheless, it is anticipated that the RSO stock will drop as the global supplies remain tight and hence, the demand has to be satisfied through the stock in the country in next few months.
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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| January | 401,695 | 657,547 | 118,327 | 153,082 | 175,553 | 191,371 | – | – | – | 41 | 695,575 | 1,002,041 |
| February | 317,878 | 672,605 | 181,820 | 234,376 | 119,470 | 233,285 | – | 1,552 | – | – | 619,168 | 1,141,818 |
| March | 213,162 | 533,094 | 138,090 | 237,014 | 141,126 | 248,085 | – | 2,015 | – | – | 492,378 | 1,020,208 |
| April | 244,644 | 497.435 | 81,977 | 119,136 | 191,293 | 251,697 | – | 452 | – | – | 517,914 | 868,720 |
| May | 314,760 | 315,101 | 125,738 | 99,678 | 162,190 | 173,397 | – | 1,075 | – | – | 602,688 | 589,251 |
| June | 316,770 | 330,207 | 186,535 | 100,256 | 256,980 | 183,899 | – | 173 | – | – | 760,285 | 615,535 |
| July | 219,568 | 460,302 | 223,333 | 147,634 | 185,517 | 198,013 | – | – | – | – | 628,418 | 805,949 |
| August | 320,267 | 420,613 | 215,574 | 206,444 | 106,523 | 178,975 | 5,641 | – | – | – | 647,825 | 806,032 |
| September | 602,429 | 304,957 | 175,852 | 210,691 | 131,559 | 81,048 | 10,417 | 16,552 | – | – | 920,257 | 613,248 |
| October | 420,691 | 353,361 | 108,025 | 151,280 | 87,185 | 93,783 | 15,233 | 7,640 | – | – | 631,134 | 606,064 |
| November | 437,789 | 303,123 | 206,160 | 171,356 | 80,978 | 141,032 | 14,083 | 1,232 | – | – | 739,010 | 616,743 |
| December | 344,886 | 376,317 | 161,001 | 142,401 | 97,338 | 157,091 | 9,801 | 15 | – | – | 613,026 | 675,824 |
| 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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| January | 321,802 | 373,630 | – | 7,000 | – | – | – | – | – | – | 321,802 | 370,630 |
| February | 341,195 | 417,170 | – | 3,300 | – | – | – | – | – | – | 341,195 | 420,470 |
| March | 242,300 | 380,270 | – | 100 | – | – | – | – | – | – | 242,300 | 380,370 |
| April | 186,430 | 316,405 | 8,000 | – | – | – | – | – | – | – | 194,430 | 316,405 |
| May | 187,050 | 298,750 | 31,000 | 17,500 | – | – | – | – | – | – | 218,050 | 316,250 |
| June | 174,800 | 275,180 | 21,000 | 3,800 | – | – | – | – | – | – | 195,800 | 278,980 |
| July | 168,810 | 264,000 | 21,900 | 33,000 | – | – | – | – | – | – | 190,710 | 297,000 |
| August | 271,255 | 277,985 | 15,900 | 17,750 | – | – | – | – | – | – | 287,155 | 295,735 |
| September | 297,436 | 224,376 | 13,900 | 33,250 | – | – | – | – | – | – | 311,336 | 257,626 |
| October | 331,496 | 171,935 | 20,900 | 14,800 | – | – | – | – | – | – | 352,396 | 186,735 |
| November | 338,920 | 207,260 | 12,200 | 4,800 | – | – | – | – | — | – | 351,120 | 212,060 |
| December | 314,670 | 286,380 | 6,900 | – | – | – | – | – | – | – | 321,570 | 286,380 |
| 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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| January | 5,429 | 88,773 | 63,373 | 77,972 | – | 2,985 | – | – | – | – | 68,802 | 169,730 |
| February | 91,866 | 74,392 | 82,237 | 37,740 | – | 2,984 | – | – | – | – | 174,103 | 115,116 |
| March | 68,247 | 116,480 | 128,237 | 93,896 | – | 2,984 | – | – | – | – | 196,484 | 213,360 |
| April | 70,697 | 115,809 | 169,576 | 84,217 | – | 2,984 | – | – | – | – | 240,273 | 203,010 |
| May | 74,586 | 110,466 | 191,339 | 16,837 | – | 485 | – | – | – | – | 265,925 | 127,788 |
| June | 68,586 | 74,344 | 176,428 | 61,468 | – | 485 | – | – | – | – | 245,014 | 136,297 |
| July | 93,003 | 68,911 | 172,841 | 112,140 | – | 485 | – | – | – | – | 265,844 | 181,536 |
| August | 28,700 | 37,501 | 48,720 | 114,885 | – | 485 | – | – | – | – | 77,420 | 152,871 |
| September | 24,460 | 33,072 | 60,470 | 105,929 | – | 485 | – | – | – | – | 84,930 | 139,486 |
| October | 45,860 | 34,906 | 47,995 | 106,267 | – | 485 | – | – | – | – | 93,855 | 141,658 |
| November | 40,335 | 3,669 | 43,175 | 102,312 | – | 485 | – | – | – | – | 83,510 | 106,466 |
| December | 50,660 | 30,442 | 36,885 | 115,817 | – | – | – | 87,545 | 146,259 | |||
Import quantity of RBD Olein in December 2021 was 77,025 tonnes which was 36.61% lower compared to the quantity imported in December 2020, there was no RBD imported in December 2021 and 12,000 MT was imported in December 2020. Import quantity of CDSBO in December 2021 was 76,619 tonnes, which witnessed a decline by 1.43% compared to December 2020. No CPO was imported in December 2021 as well as the same period in 2020. 500 MT CPKO & 3,305 MT RPS were imported in December 2021 vs 5,034 MT CPKO and 4,638 MT RPS were imported in December 2020. 136 MT sunflower Oil imported in December 2021 and 5,538 MT in December 2020 which is declined by 99.67 % compared to December 2020. There was 410 MT refined vegetable oil imported in December 2021 and 646 MT in same period of 2020, which is a decline by 36.53%. No data for blended vegetable oil in December 2021 as well as December 2020.
In December 2021, total only 155,609 tonnes of Palm Oil & CDSBO were lifted from the bulk storage terminals of which 66,700 tonnes i.e 42.86% was palm oil and rest 88,909 tonnes i.e. 57.14% was CDSBO. Trading volume vis-a-vis lifting of edible oils from bulk storage facilities have been in decline compared to previous month based on supply and demand of the products for Covid situation.
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)* | |||||||
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| January | 170,000 | 155,000 | 823,000 | 689,000 | 34,000 | 38,300 | 106,000 | 72,300 | 113,000 | 55,400 | 1,246000 | 1,010,000 |
| February | 170,000 | 161,500 | 777,000 | 690,000 | 34,000 | 27,000 | 71,000 | 82,000 | 113,000 | 79,500 | 1,165,000 | 1,040,000 |
| March | 170,000 | 168,000 | 786,000 | 830,000 | 30,000 | 25,000 | 71,000 | 73,000 | 117,000 | 54,000 | 1,174,000 | 1,150,000 |
| April | 170,000 | 160,000 | 779,000 | 853,000 | 34,000 | 27,000 | 71,000 | 83,000 | 113,000 | 107,000 | 1,167,000 | 1,230,000 |
| May | 170,000 | 164,500 | 686,000 | 880,000 | 23,000 | 23,000 | 67,000 | 85,000 | 110,000 | 97,500 | 1,056,000 | 1,250,000 |
| June | 170,000 | 160,000 | 675,000 | 916,000 | 23,000 | 24,000 | 60,000 | 66,000 | 113,000 | 114,000 | 1,041,000 | 1,280,000 |
| July | 170,000 | 178,000 | 659,000 | 935,000 | 23,000 | 34,000 | 60,000 | 65,000 | 113,000 | 98,000 | 1,025,000 | 1,310,000 |
| August | 170,000 | 160,000 | 670,000 | 941,000 | 23,000 | 33,000 | 62,900 | 64,000 | 113,000 | 22,000 | 1,038,000 | 1,220,000 |
| September | 170,000 | 171,000 | 815,000 | 844,000 | 23,000 | 28,000 | 60,000 | 75,000 | 113,000 | 112,000 | 1,181,000 | 1,230,000 |
| October | 154,000 | 165,000 | 867,000 | 796,000 | 23,000 | 31,000 | 58,000 | 61,000 | 113,000 | 237,000 | 1,215,000 | 1,290,000 |
| November | 154,000 | 160,000 | 869,000 | 857,000 | 23,000 | 34,000 | 52,000 | 87,000 | 113,000 | 113,000 | 1,211,000 | 1,251,000 |
| December | 160,000 | 857,000 | 34,000 | 87,000 | 113,000 | 1,251,000 | ||||||
US ending stock reported a total of 1,211,000 MT for November 2021 which is 0.33% lower than the ending stock of the previous month of October 2021. From that amount, soybean oil closing stock increased by 0.23% while rapeseed oil closing stock decreased by 10.3% when compared to the amount from the previous month. No changes were recorded by palm oil and sunflower oil closing stock. US soybean oil ending stock has raised higher with reduced export, reflecting lower global imports and lower shipments throughout November 2021. Argentina soybean oil prices decreased slightly on greater supplies. Brazil soybean oil was up slightly on higher export demand, especially for India.
*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.
