Monthly Stock Comparison 2023
| Country : China | ||||||||||||
| Oils and Fats Ending Stocks | ||||||||||||
| Â | Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Â | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| January | 918,000 | 407,800 | 677,300 | 745,000 | – | – | 147,500 | 303,900 | – | – | 1,744,800 | 1,456,700 |
| February | 943,400 | 369,100 | 596,900 | 699,600 | – | – | 200,500 | 327,000 | – | – | 1,740,800 | 1,395,700 |
| March | 911,800 | 345,400 | 541,100 | 680,800 | – | – | 240,600 | 304,400 | – | – | 1,693,500 | 1,330,600 |
| April | 762,400 | 290,900 | 631,900 | 791,300 | – | – | 359,600 | 289,000 | – | – | 1,753,900 | 1,371,200 |
| May | Â | 238,200 | Â | 861,400 | Â | – | Â | 277,500 | Â | – | Â | 1,377,100 |
| June | Â | 193,000 | Â | 888,800 | Â | – | Â | 221,400 | Â | – | Â | 1,303,500 |
| July | Â | 272,300 | Â | 784,100 | Â | – | Â | 165,100 | Â | – | Â | 1,221,500 |
| August | Â | 305,600 | Â | 704,800 | Â | – | Â | 139,900 | Â | – | Â | 1,150,300 |
| September | Â | 514,700 | Â | 706,600 | Â | – | Â | 126,900 | Â | – | Â | 1,348,200 |
| October | Â | 675,300 | Â | 670,700 | Â | – | Â | 112,400 | Â | – | Â | 1,458,400 |
| November | Â | 874,300 | Â | 611,500 | Â | – | Â | 169,800 | Â | – | Â | 1,655,600 |
| December | Â | 969,600 | Â | 624,800 | Â | – | Â | 107,000 | Â | – | Â | 1,701,400 |
Total stock of the 3 major vegetable oils rose to 37-month high of 1.75 million MT by end April 2023, which is also an increase of 3.6% or 60,400 MT from Mar’s stock. The rise of stock was due to the active restocking activities by SBO and RSO importers and traders, which led to the sharp increase of these 2 vegetable oils’ stock.
The rise in SBO stock was mainly due to the surge of soybean crushing margins in Apr, which was risen from an average RMB46.25/MT (in Mar) to RMB358.50. The increase in soybean crushing margin was due to the improvement of pork prices and also the arrival of Brazilian soybean which in more price competitive. This has encouraged crushers to run their plants more often to satisfy the demand for SBM. Nevertheless, as the demand for cooking oil remains weak, the demand for SBO was not as strong as SBM, and this led to the increase of SBO stock in Apr by 90,800 MT or 16.8%.
Similarly, the aggressive crushing of rapeseed and also the import of RSO has also led to the build-up of RSO stock in China in April. The Apr’s stock level (359,600 MT) is the highest since Oct 2021 (387,200 MT).  The aggressive import of both rapeseed and RSO was merely to replenish the stock level in the country which was caused by the dropped in Canada’s canola output in 2022, but again, the poor uptake of cooking oil in China has caused the increase in RSO stock level for the 4th consecutive month in April 2023. The active crushing of rapeseed in response to the seasonal growing demand of RSM from aquaculture sector has also further added more RSO to the stock level in China.
Different from both SBO and RSO, stock level of PO declined for the 2nd consecutive month in April to 762,400 MT. This is due to the low import due to the high stock but at the same time and high consumption of PO due to attractive price against SBO (average discount of RMB1,047.50/MT) which offers good margin for the refiners especially when the needs to fractionate PL to lower melting point is lower due to the rising temperature. Despite the drop in PO stock level, it is expected that the stock will continue to drop in May as market info indicates that the arrival of PO in May will remain low (estimated 400,000 MT) as most importers still think that the current stock level is still considered high which led to the widening of negative import margin in Apr to –RMB116.50.
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 | ||||||||||||
| Â | Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Â | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| January | 667,054 | 398,777 | 169,253 | 154,598 | 229,212 | 154,647 | – | 3,637 | – | – | 1,065,519 | 711,659 |
| February | 623,359 | 336,270 | 113,401 | 107,166 | 194,138 | 83,065 | – | 43 | – | – | 930,898 | 526,544 |
| March | 567,775 | 349,212 | 138,644 | 127,988 | 169,358 | 119,115 | – | – | – | 10 | 875,777 | 596,325 |
| April | 448,951 | 251,594 | 132,989 | 101,105 | 175,111 | 80,225 | – | – | – | – | 756,960 | 432,924 |
| May | Â | 240,865 | Â | 166,426 | Â | 100,435 | Â | – | Â | – | Â | 507,726 |
| June | Â | 134,513 | Â | 143,163 | Â | 1,517 | Â | – | Â | – | Â | 279,193 |
| July | Â | 40,450 | Â | 168,593 | Â | 249 | Â | – | Â | – | Â | 209,292 |
| August | Â | 332,225 | Â | 190,479 | Â | 116,228 | Â | – | Â | – | Â | 638,932 |
| September | Â | 484,369 | Â | 181,360 | Â | 103,486 | Â | – | Â | – | Â | 769,215 |
| October | Â | 434,677 | Â | 119,851 | Â | 64,049 | Â | – | Â | – | Â | 618,577 |
| November | Â | 580,515 | Â | 61,140 | Â | 110,552 | Â | – | Â | – | Â | 752,207 |
| December | Â | 706,996 | Â | 344,886 | Â | 100,165 | Â | – | Â | – | Â | 900,827 |
April 2023 stocks are 75% higher than April 2022 but 14% lower than the previous month, March 2023. This continues the decreasing stock level trends since the beginning of the year, with every month end stocks being lower than the previous month. POP stocks, at 449k, are lower by 21% compared to the 568K in the previous month, March, 2023; but 78% higher when compared to the 252K in April 2022. Soft Oils stocks have registered an increase of 70% compared to Apr 2022 but are practically unchanged compared to Mar 2023. CDSBO stocks rose 31% compared to Apr 2022 but lower by 4% compared to Mar 2023. CSFO stocks, for the same periods, rose by 118% and 3%, respectively. In POP, RBD Olein stocks at 174k, were lower by 18% compared to the 211K in Mar 2023. At the same time, CPO stocks fell to 205k from 307k in Mar 2023. The unchanged stock levels of Soft Oils at the end of Apr 2023, when PPO stocks fell by 21% compared to Mar 2023, is an indicator of increased Soft Oils imports. The Ukraine situation and price competitiveness of POP will continue to influence the composition of the import basket, as demonstrated in the significant increase in the proportion of Soft Oil imports in April 2023.
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 | ||||||||||||
| Â | Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Â | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| January | 369,445 | 273,242 | 33,500 | 16,000 | 2,000 | – | – | – | – | – | 404,945 | 289,242 |
| February | 418,415 | 203,365 | 37,900 | 10,500 | – | – | – | – | – | – | 456,315 | 213,865 |
| March | 297,380 | 186,865 | 19,000 | 25,740 | – | – | – | – | – | – | 316,380 | 212,605 |
| April | 249,980 | 267,230 | 20,500 | 9,200 | – | – | – | – | – | – | 270,780 | 276,430 |
| May | Â | 170,390 | Â | 24,150 | Â | – | Â | – | Â | – | Â | 194,540 |
| June | Â | 58,720 | Â | 37,200 | Â | – | Â | – | Â | – | Â | 95,920 |
| July | Â | 249,830 | Â | 36,600 | Â | – | Â | – | Â | – | Â | 286,430 |
| August | Â | 289,756 | Â | 32,000 | Â | – | Â | – | Â | – | Â | 321,756 |
| September | Â | 278,870 | Â | 37,330 | Â | – | Â | – | Â | – | Â | 316,200 |
| October | Â | 214,078 | Â | 43,120 | Â | – | Â | – | Â | – | Â | 257,198 |
| November | Â | 286,370 | Â | 32,300 | Â | – | Â | – | Â | – | Â | 318,670 |
| December | Â | 332,105 | Â | 21,500 | Â | – | Â | – | Â | – | Â | 353,605 |
At the end of April 2023, the edible oil stocks at Port Qasim Authority (PQA) and Karachi Port Trust (KPT) have recorded a figure of 270,780 MT which is 14.41% less than the closing stocks of the previous month. Out of the total 270,780MT of stocks available at Port Qasim Authority and Karachi Port, the stocks of RBD palm olein is showing the highest share of 50.01% followed by palm oil 33.98%. Palm oil and its various fractions have a share of 92.32% in the total ending stocks.
As anticipated in our earlier report, the oils and fats import in Pakistan in the month of April registered a figure of only 162,717 MT which the lowest recorded imports in 2023. The low arrival continued to put pressure on the stocks of oils and fats and resulted in a further decline of 14.4%.
At the end of April, the stocks of oils and fats in Pakistan are slightly below its optimal level but the imports are likely to improve in the month of May which should maintain the current stock level.
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 | ||||||||||||
| Â | Palm Oil (MT) | Soybean Oil (MT) | Sunflower Oil (MT) | Rapeseed Oil (MT) | Other Oils (MT) | Total Ending Stocks (MT) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Â | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| January | 131,530 | 24,470 | 49,830 | 19,050 | – | – | – | – | – | – | 181,360 | 43,520 |
| February | 138,870 | 59,280 | 54,900 | 25,830 | – | – | – | – | – | – | 193,770 | 85,110 |
| March | 149,100 | 88,180 | 67,900 | 28,700 | – | – | – | – | – | – | 217,000 | 123,880 |
| April | 138,960 | 36,688 | 79,520 | 28,817 | – | – | – | – | – | – | 218,480 | 68,005 |
| May | Â | 28,635 | Â | 25,525 | Â | – | Â | – | Â | – | Â | 54,160 |
| June | Â | 21,525 | Â | 19,910 | Â | – | Â | – | Â | – | Â | 41,435 |
| July | Â | 52,000 | Â | 54,530 | Â | – | Â | – | Â | – | Â | 106,530 |
| August | Â | 76,450 | Â | 75,400 | Â | – | Â | – | Â | – | Â | 151,850 |
| September | Â | 140,700 | Â | 114,560 | Â | – | Â | – | Â | – | Â | 255,260 |
| October | Â | 220,345 | Â | 93,775 | Â | – | Â | – | Â | – | Â | 314,120 |
| November | Â | 184,830 | Â | 82,940 | Â | – | Â | – | Â | – | Â | 267,770 |
| December | Â | 169,135 | Â | 53,715 | Â | – | Â | – | Â | – | Â | 222,850 |
April 2023 stocks are 221 % Higher than Apr 2022 and 0.68% higher than the previous month, Mar 2023. Meanwhile, POP Stock lower by 7.29% compared to Mar 2023, Soft Oil stocks increased by 17.11%. RBD Olein stocks are at healthy levels compared to CPO. Palm Oil & soft oil stocks expected to be increase in May 2023 considering upcoming EIDUL ADHA and continuation of government Subsidy. Prices of soybean and Palm oil in local market are still on the higher side which impacting the customer.
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)* | |||||||
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |
| January | 159,000 | 154,000 | 878,000 | 942,000 | 26,000 | 23,000 | 102,000 | 52,000 | 116,000 | 113,000 | 1,281,000 | 1,284,000 |
| February | 159,000 | 154,000 | 878,000 | 942,000 | 26,000 | 23,000 | 102,000 | 52,000 | 116,000 | 113,000 | 1,281,000 | 1,284,000 |
| March | 159,000 | 154,000 | 878,000 | 896,000 | 26,000 | 23,000 | 131,000 | 77,000 | 116,000 | 113,000 | 1,310,000 | 1,263,000 |
| April | 159,000 | 774,000 | 23,000 | 88,000 | 113,000 | 1,157,000 | ||||||
| May | 159,000 | 763,000 | 23,000 | 88,000 | 113,000 | 1,146,000 | ||||||
| June | 159,000 | 754,000 | 23,000 | 71,000 | 113,000 | 1,120,000 | ||||||
| July | 159,000 | 822,000 | 23,000 | 71,000 | 113,000 | 1,188,000 | ||||||
| August | 159,000 | 828,000 | 23,000 | 67,000 | 113,000 | 1,190,000 | ||||||
| September | 159,000 | 837,000 | 23,000 | 73,000 | 113,000 | 1,205,000 | ||||||
| October | 159,000 | 843,000 | 23,000 | 81,000 | 116,000 | 1,222,000 | ||||||
| November | 159,000 | 862,000 | 23,000 | 79,000 | 116,000 | 1,239,000 | ||||||
| December | 159,000 | 862,000 | 23,000 | 86,000 | 116,000 | 1,246,000 | ||||||
