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China’s combined stocks of soybean oil, rapeseed oil and palm oil in the week to Friday October 25 were down by 50,000 tonnes to 1.99 million tonnes from the previous week’s 2.04 million tonnes, according to data from the China National Grain and Oils Information Center (CNGOIC) on Wednesday October 30.

Freight rates for vessels carrying palm oil cargoes within Asia were broadly stable in the week to Wednesday October 30, though inquiries for November vessels have remained thin, sources have told Fastmarkets.

Malaysia’s palm oil exports during October 1-25 continued to show a rise from September, with volumes estimated at 1.25 million tonnes, according to data from cargo surveyor Intertek Testing Services (ITS).

The first indications for crude palm oil (CPO) cargoes for loading in 2025 have been heard discussed in the key Rotterdam delivery market, with traders showing increased signs of getting back to work after European deforestation rules were shelved in September.

China’s stocks of soybean oil, rapeseed oil and palm oil were recorded at 2.04 million tonnes in the week to Friday October 18, down from 2.06 million tonnes the previous week, according to data from the China National Grain and Oils Information Center (CNGOIC) on Thursday October 24.

Freight rates for vessels carrying palm oil cargoes within Asia fell across the board in the week to Wednesday October 23 on softer charterer sentiment for November.

Indonesia’s palm oil exports in August amounted to 2.38 million tonnes, up by 144,000 tonnes, or 6.38%, from 2.24 million tonnes in July, according to the latest data published by the Indonesian Palm Oil Association (Gapki) on Tuesday October 22.

Malaysia's Ministry of Finance (MoF) released an appendix late on Friday October 18 evening detailing its proposed revision of the export duty rates for crude palm oil (CPO) that was announced on the same day.

Malaysia will raise its windfall tax threshold for palm oil and amend the market price structure and crude palm oil (CPO) export duty rate from November 1, the government said as part of its Budget 2025 announcement on Friday October 18.

Crude palm oil (CPO) prices are expected to average between 3,500 ringgit ($812) and 4,000 ringgit per tonne in 2025, Malaysia’s Ministry of Finance said in its Economic Outlook Report that was published on Friday October 18.

China imported 310,000 tonnes of corn in September, a further drop from August’s 428,467 tonnes and the lowest since March 2020 when imports were around 318,000 tonnes, figures from the country’s General Administration of Customs (GACC) showed on Friday October 18.

China’s vegoil inventories consisting of soybean oil, rapeseed oil and palm oil totaled 2.06 million tonnes in the week to Friday October 11, according to data from the China National Grain and Oil Information Centre (CNGOIC) on Thursday October 17.

Confirmation from the European Council that it has signed off on a proposed delay to the European Union’s Deforestation Regulation (EUDR) has brought the first signs of physical palm product trade levels, trade sources have told Fastmarkets on Wednesday October 16.

Freight rates for vessels carrying palm oil cargoes within Asia were up in the week to Wednesday October 16 on tightened tonnage spaces due to competition with aromatic products on Indian routes, as well as concerns that Indonesia would raise the levy for November.

Malaysia has set its crude palm oil (CPO) reference price for October at 3,949.73 ringgit ($920) per tonne, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Wednesday October 16.

China imported 11.37 million tonnes of soybeans in September 2024, estimates from the country’s General Administration of Customs (GACC) showed on Monday October 14.

India’s edible vegetable oil imports fell to 1.064 million tonnes in September, its lowest since February, according to figures from industry group Solvent Extractors Association of India (SEA) on Friday October 11.

Freight rates for vessels carrying palm oil cargoes within Asia held steady in the week to Wednesday October 9, as palm inquiries for October improved, with still healthy tonnage available.

India is targeting to boost its domestic edible oil production to 25.45 million tonnes by 2030/31, following the approval of the National Mission on Edible Oils and Oilseeds (NMEO-Oilseeds), the government said in a statement issued in the late evening on Thursday October 3.

The premium of crude palm oil (CPO) to soyoil on a CFR India basis has jumped by $10 per tonne (25%) to $50 per tonne as of Wednesday October 2 from a month ago, after the rise in CPO prices outpaced that for soyoil.