China’s Rapeseed Crush Weekly (Week 3, 2019)
Amid continued declines of operation rate in coastal areas this week (Jan. 12th-18th), rapeseed crush in 101 domestic mills surveyed by Cofeed has dwindled to 64,100 tonnes (imported rapeseed 62,000 tonnes and domestic rapeseed 2,100 tonnes), a reduction of 2420 tonnes by 3.64% from 66,520 tonnes. Meanwhile, operation rate (capability utilization) has dropped to 12.79% from 13.28% last week, of which it has edged down to 0.78% from 0.94% last week for domestic rapeseed; and it has also declined to 30.02% from 30.99% last week for imported rapeseed in coastal areas. Amid tensions between China and Canada, five out of eight rapeseed cargoes are not allowed to go processed after unloaded, and the rest three arriving this week still stay at ports. Under such circumstance, crush volume will drop further to a low level of 56,000 tonnes next week and to 37,000 tonnes in week 5 due to rapeseed shortages.
Fig. 1: Rapeseed Weekly Crush in China (Week 1, 2016-Week 3, 2019)
Fig. 2: Rapeseed Operating Rate in China (Week 1, 2015-Week 3, 2019)
