Palm Oil Import and Stock Level Dropped Concurrently in May 2016
by Desmond Ng
Palm oil import volume in May 2016 recorded a year-on-year decrease of 60.05% or 292,687 MT to 194,749 MT, which is the lowest since 2005. Subsequently palm oil stock level in China decreased from 840,000 MT to 600,400 MT by the end of May. While the drop in stock was partly due to the slowdown in palm oil import, as a result of narrowing price difference between palm oil and soybean oil since March this year; the demand for palm remain steady and hence satisfied through digesting the stock. This current stock level which further declined to 387,400 MT by end June, may trigger a rush to stock up more palm oil in coming months, so we can forecast its import volume will increase in June and July.
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