China’s Rapeseed Crush Weekly (Week 2, 2019)
Amid the sharp decline of operation rate in coastal areas this week (Jan. 5th-11th), rapeseed crush in 101 domestic mills surveyed by Cofeed has dwindled to 66,520 tonnes (imported rapeseed 64,000 tonnes and domestic rapeseed 2,520 tonnes), a reduction of 30,930 tonnes by 31.74% from 97,450 tonnes. Meanwhile, operation rate (capability utilization) has dropped markedly to 13.28% from 19.45% last week, of which it has edged up to 0.97% from 0.91% last week for domestic rapeseed; and it has also declined steeply to 30.99% from 46% last week for imported rapeseed in coastal areas. As several cargoes of Canadian rapeseed have got some problems in being unloaded or are not allowed to be processed due to strained relations between China and Canada, the crush volume will drop further to relatively low levels of 64,000 tonnes next week and to around 63,500 tonnes in week 4.
Fig. 1: Rapeseed Weekly Crush in China (Week 1, 2016-Week 1, 2019)
Fig. 2: Rapeseed Operating Rate in China (Week 1, 2015-Week 1, 2019)
