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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |
| January | 321,802 | 373,630 | – | 7,000 | – | – | – | – | – | – | 321,802 | 370,630 |
| 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) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 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)* | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 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.
