Monthly Stock Comparison 2022

Monthly Stock Comparison 2022

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)
 202220212022202120222021202220212022202120222021
January407,800732,000745,000674,800303,900165,9001,456,7001,572,900
February369,100739,200699,600728,900327,000162,8001,395,7001,630,900
March345,400548,800680,800617,800304,400188,6001,330,6001,355,200
April290,900507,800791,300626,400289,000219,4001,371,2001,353,600
May 447,900 744,200  325,400  1,517,500
June 341,500 842,200  354,900  1,538,600
July 339,100 903,600  418,000  1,660,700
August 450,300 850,100  423,100  1,723,500
September 398,300 826,300  413,600  1,638,200
October 490,400 790,700  387,200  1,668,300
November 559,400 761,900  307,100  1,628,400
December 577,500 714,600  308,800  1,600,900

The total end stock of the 3 major vegetable oils in China reversed the downtrend recorded in the past 5 months in April 2022, and reached 1.37 million MT.  The stock level was marginally higher by 40,600 MT or 3.1% month-on-month, but still lower than stock level recorded in February.   The increase in April’s stock was mainly lifted by the sharp increase in SBO’s stock, while PO and RSO’s drop in stock almost nullified the increase recorded in SBO’s stock level during the month, explaining why the increase was marginal.

This month, the PO stock level has reached record low of 290,900 MT since Nov 2010, which is less than 50% of the monthly buffer stock require to sustain palm oil demand based on the average monthly consumption recorded in 2021.  The drop which was 15.8% m-o-m came as surprise when the country is expected to consume more SBO and lead to higher stock, as palm olein has been selling at the premium against SBO since January 2022, and surged to as high as RMB2,320/MT in April. Nevertheless, the surge in PL premium against SBO has also deterred the interest of traders and importers to continue stay on side lines waiting for lower price, subsequently led to the record low import volume. Although the import statistics for April is still unavailable, it is believe that the import volume is at below 200,000 MT as per recorded in monthly import volume of Jan to Mar this year, judging from

In contrary, the SBO stock has surged 110,500 MT or 16.2% in April due to the continued improvement of crushing margin in recent months, which has increased as high as average RMB712/MT in March. Although the crushing margin has retreated to slightly below RMB300/MT in April, it’s still remain lucrative for the crushers to run the plant to offset the slowdown in crushing activities due to poor or negative margins in certain months in a year. Nevertheless, the high crushing activities have led to the drastic built up of stock as the current high vegetable oil prices has inevitably caused the slowdown in industry activities especially those involve non-essential products. Subsequently, this also slowed down the demand for SBO. Besides that, the release of government soybean and SBO reserves since March have also led to the higher level of commercial stock in the market.

Compared to both SBO and PO, the stock of RSO only moved (dropped) marginally by 5,400 MT during the month of April, where both crushing of RS and import of RSO are not expected to have big movement due to the high prices and also low availability due to the poor European RS crop.

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)
 202220212022202120222021202220212022202120222021
January398,777401,695154,598118,327154,647175,5533,637711,659695,575
February336,270317,878107,166181,82083,065119,47043526,544619,168
March349,212213,162127,988138,090119,115141,126596,325492,378
April251,594244,644101,10581,97780,225191,293432,924517,914
May 314,760 125,738 162,190   602,688
June 316,770 186,535 256,980   760,285
July 219,568 223,333 185,517   628,418
August 320,267 215,574 106,523 5,641  647,825
September 602,429 175,852 131,559 10,417  920,257
October 420,691 108,025 87,185 15,233  631,134
November 437,789 206,160 80,978 14,083  739,010
December 344,886 161,001 97,338 9,801  613,026

April 2022 stocks are 16% lower than April 2021 and 27% lower than the previous month, March 2022. Importers were caught on the wrong foot when prices started climbing. No wonder stocks were brought down to such low levels, in fact lowest in the last 60 months. Whilst POP stocks fell by 28% compared to March 2022, Soft Oils stocks fell 27%. RBD Olein stocks continue to be at healthy levels compared to other oils, thereby indicating sustained imports. The fact that RBD stocks are higher than CPO stocks, has caused concern amongst the local processors as their capacity utilisation is affected adversely. Both Palm and Soft Oil stocks have decreased. SFO stocks decreased by 33% compared to March 2022 whilst SBO stocks decreased by 21%. There is an obvious shift from SFO to SBO due to Ukraine situation. SFO stocks fell by 58% compared to April 2021, SBO stocks increased by 23%, and PPO stocks increased by a marginal 3% during the same period. The Ukraine situation will continue to influence the composition of the import basket, especially SBO/SFO. This is an opportunity for PO suppliers to step forward and regain some of the lost ground.

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)
 202220212022202120222021202220212022202120222021
January273,242321,80216,000289,242321,802
February203,365341,19510,500213,865341,195
March186,865242,30025,740212,605242,300
April267,230186,4309,2008,000276,430194,430
May 187,050 31,000    218,050
June 174,800 21,000    195,800
July 168,810 21,900    190,710
August 271,255 15,900    287,155
September 297,436 13,900    311,336
October 331,496 20,900    352,396
November 338,920 12,200    351,120
December 314,670 6,900    321,570

At the end of April 2022, the edible oil stocks at Port Qasim Authority (PQA) and Karachi Port Trust (KPT) have recorded a figure of 276,430 MT which is 30.02% higher than the closing stocks of the previous month.

Out of the total 276,430MT of stocks available at Port Qasim Authority and Karachi Port, the stocks of RBD palm olein is showing the highest share of 51.37% followed by palm oil 37.55% and soybean oil 3.33%. Palm oil and its various fractions have a share of 96.67% in the total ending stocks.

The increase in the local stocks is attributed to the slow distribution of edible oil on the anticipation of increase in the price in domestic market in the month of May due to the announced export ban of palm oil from Indonesia. Pakistan is heavily reliant on imports of palm oil from Indonesia and any prolonged ban can result in severe shortage of cooking oils and fats. Pakistan industry was expecting to receive nearly 130,000 MT of palm oil from Indonesia in the month of May, the status of which is currently uncertain.

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)
 202220212022202120222021202220212022202120222021
January24,4705,42919,05063,37343,52068,802
February59,28091,86625,83082,23785,110174,103
March88,18068,24728,700128,2377,000123,880196,484
April36,68870,69728,817169,5762,50068,005240,273
May 74,586 191,339    265,925
June 68,586 176,428    245,014
July 93,003 172,841    265,844
August 28,700 48,720    77,420
September 24,460 60,470    84,930
October 45,860 47,995    93,855
November 40,335 43,175    83,510
December 50,660 36,885    87,545

Import quantity of RBD Olein in April 2022 was 107,735 tonnes which was (-) 44.71% lower compared to the quantity imported in April 2021. Import quantity of CDSBO in April 2022 was 66,951 tonnes, which witnessed decline by (-) 17.34% compared to April 21. There was no CPO imported in April 2022 as well as in April 2021. There was no RPO imported in April 2022 as well as in same period of 2021. There was 700 MT CPKO was imported at April 2022 while 800 MT CPKO were imported in April 2021 which is a decline by (-) 12.5% compared to the April 2021. There was 3,310 MT RPS imported in April 2022 and 3,982 MT in April 2021 which is (-) 16.88 % decline compared to April 2021.  Import quantity of PFAD/Acid oil in April 2022 was 384 tonnes, and Import quantity of PFAD/Acid Oil during same period of 2021 was 250 MT which is 34.89% higher than same period of 2021.  There was 335 MT of sunflower Oil imported in April 2022 while 125 MT was imported in April 2021 which is an increase by 62.68 % compared to April 2021. There was 4 MT refined Veg Oil imported in April 2022 and 102 MT in same period of 2021 which is 96.06% lower compared to April 2021. No data for blended vegetable oil in April 2022 as well as April 2021.

In April 2022, a total of 226,060 tonnes of Palm Oil & CDSBO were lifted from the bulk storage terminals against 157,366 tonnes in March 2022, of which 159,226 tonnes i.e 70.43% was palm oil and rest 66,834 tonnes i.e. 29.57% was CDSBO. Trading volume vis-a-vis lifting of edible oils from bulk storage facilities have been increasing compared to previous month based on supply and demand of the products.

Palm oil and soybean consumption has shown an increase, in Ramadan period, which is the vital reason for more delivery/lifting of cargo. Indonesian Government had put on hold on exporting their palm oil products to fulfil their domestic market until further notice, therefore palm oil products were imported less significantly in April 2022. Bangladesh Government is actively looking for alternate source of vegetable oils from other exporting country in the world.

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)*
2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
January 154,000 170,000 942,000 823,000 23,000 34,000 52,000 106,000 113,000 113,000 1,284,000 1,246000
February 154,000 170,000 942,000 777,000 23,000 34,000 52,000 71,000 113,000 113,000 1,284,000 1,165,000
March 154,000 170,000 896,000 786,000 23,000 30,000 77,000 71,000 113,000 117,000 1,263,000 1,174,000
April 159,000 170,000 774,000 779,000 23,000 34,000 88,000 71,000 113,000 113,000 1,157,000 1,167,000
May   170,000   686,000   23,000   67,000   110,000   1,056,000
June   170,000   675,000   23,000   60,000   113,000   1,041,000
July   170,000   659,000   23,000   60,000   113,000   1,025,000
August   170,000   670,000   23,000   62,900   113,000   1,038,000
September   170,000   815,000   23,000   60,000   113,000   1,181,000
October   154,000   867,000   23,000   58,000   113,000   1,215,000
November   154,000   869,000   23,000   52,000   113,000   1,211,000
December   154,000   869,000   23,000   52,000   113,000   1,211,000
US ending stock reported a total of 1,157,000 MT for April 2022, reflecting a decrease by 8.4% compared to the previous month. From that amount, the ending stock of soybean oil decreased by 13.6% while palm oil and rapeseed oil ending stock increased by 3.2% and 14.3% respectively. No changes were reflected by sunflower oil end stocks when compared to the amount from the previous month. Soybean crushing increased sizably from the previous year in the US and Brazil. In Jan/April 2022, they reached record highs of 20.2 million MT and 15.7 million MT respectively. Crush margins have been favourable because of high soybean oil and soybean meal demand and prices. In the USA the soybean crush has been mainly driven by rising domestic requirements both for oil as well as for meal. Reduced availability of canola meal and sun meal has raised domestic demand of soya meal. Soybean oil consumption is increasing sharply due to further rapid growth in demand from the biofuel industry.
*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.

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