SunSirs: China Domestic Palm Oil Storage is Expected to Continue at Low Prices, with Strong Volatility
October 12 2024 14:42:18 SunSirs (Selena)
With the decline in import profits, the purchase of palm oil imported ships decreased in the fourth quarter. Ship schedule monitoring shows that the expected arrival of palm oil in China from October to December is 200,000 tons, 300,000 tons, and 300,000 tons, respectively. At the beginning of October, the domestic palm oil inventory was 530,000 tons, a year-on-year decrease of 350000 tons. With fewer imports to ports in the future, it is expected that the domestic palm oil inventory will continue to remain low from October to November, with strong price fluctuations, and palm oil prices will be stronger than soybean oil in the short term.
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