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China’s import of rapeseed and its related products in October 2017

2017-11-29 www.cofeed.com
1.Import of rapeseed
    According to General Administration of Customs, China has imported 306,200 tonnes of rapeseed in October 2017, increasing slightly by 3.8% over last month, but significantly up 4 times over the same period last year. Though the figure is a tad higher than that in September, it ranks the third low in year 2017. On this very note, China's total imports of rapeseed are 3,958,400 tonnes from January to October, higher by 31.1% over the same period last year. Yet, annual imports in 2017/18 amount to 1,858,000 tonnes, with a year-on-year growth of 44.2%. Import increase in the civil year and the crop year mainly derives from the trade friction between China and Canada last year.

2. Import of rapeseed meal
    According to customs data, China has imported 48,900 tonnes of rapeseed meal at ports in October 2017, down 41.3% against last month of 83,300 tonnes, and down 28.62% year on year. Overall, imports of rapeseed meal from January to October this year amount to 773,800 tonnes, twice of that in last year when imports were stumbled by policies. China's total imports of rapeseed meal in the first four months in 2017/18 add up to 409,000 tonnes, with a substantial increase of 31.09% over the same period of year 2016/17. Despite the fact that import of rapeseed meal is downsized year on year and month on month, stockpiles still maintain at a high level.

3. Import of rapeseed oil
    According to customs data, China has imported 42,100 tonnes of rapeseed oil in October 2017, with an increase of 11,800 tonnes from 30,300 tonnes attained in the previous month, while total imports from January to October this year add up to 653,000 tonnes, jumping 15.58% from 565,000 tonnes the same period in year 2016, with an increase of 88,000 tonnes. At this point, China's imports of rapeseed oil amount to 209,800 tonnes in 2017/18 (from June to May in 2018), up 67.17% with an increase of 84,300 tonnes over the previous year, which presents an obvious rebound.