SunSirs: China's Domestic Palm Oil Supply may Become Loose in the Fourth Quarter
July 26 2024 15:21:47 SunSirs (Selena)
On July 26th, the National Grain and Oil Information Center reported that there has been an increase in the purchase of palm oil for shipping, and the import of palm oil to ports has also increased. According to shipping schedule monitoring, the estimated arrival volume of palm oil in China from July to September is 350,000 tons, 320,000 tons, and 420,000 tons, respectively. At present, the procurement of shipping schedules from October to December is still underway. Considering the continuous accumulation of palm oil reserves in the production area, the import profit of palm oil in China is expected to improve in the future, and the purchase of ships will continue to increase. It is expected that the domestic supply of palm oil may be significantly loose in the fourth quarter, and prices will weaken.
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