Cottonseed: This week, cottonseed oil and cottonseed meal markets go up despite some fluctuations, yet with a fair overall shipment. But cottonseed stock this week goes up due to ongoing climbing operation rate in cottonseed oil mills after the end of maintenance in some oil mills. Until this Friday, 62 national oil mills have 22,800 tonnes of cottonseed in stock, up 2,300 tonnes from last week’s 20,500 tonnes by 11.22%; and it also sees 11,600 tonnes above last year’s 11,200 tonnes of the corresponding period by 103.57%.

    Cottonseed oil: This week, operation rate in cottonseed oil mills sees a pickup. But this week cottonseed oil stock in oil mills reduces due to its overall stock at lows, coupled with a relatively good shipment state just in the stockpiling for the Mid-autumn Festival and National Day. As a blending oil, cottonseed oil is limited in usage amount, so its stock reducing pace is also restricted. Until this Friday, 62 national oil mills have 4,860 tonnes of cottonseed oil in stock, down 900 tonnes from last week’s 5,760 tonnes by 15.63%; and it also sees a 3,770 tonnes below last year’s 8,630 tonnes of the corresponding period by 43.69%.

    Fig. 2: Comparison for China’s Cottonseed Oil Stocks in Recent Years

    Cottonseed meal: Market participants are inclined to support soybean meal price under the still soaring soybean import cost and their concerns over an inadequate fourth-quarter soybean supply. The cottonseed meal market owns a relatively small supply, especially under the peak demand from aquaculture, so it will keep an upward state with fluctuations before its new meal entering into market. Besides, downstream companies are active in taking delivery, so cottonseed meal continues to reduce in stock this week. Until this Friday, 62 national oil mills have 1,310 tonnes of cottonseed meal in stock, down 140 tonnes from last week’s 1,450 tonnes by 9.66%; and it also sees a 4,190 tonnes below last year’s 5,500 tonnes of the corresponding period by 76.18%. 

    Fig. 3: Comparison for China’s Cottonseed Meal Stocks in Recent Years