I. Rapeseed: stock and port arrival
The inventory of imported rapeseed in domestic coastal areas is 365,500 tonnes, a further reduction of 62,000 tonnes by 14.5% from 427,500 tonnes last week and by 10.64% from 409,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has dropped to 234,500 tonnes, down 15.3% from 277,500 tonnes last week and 23.62% from 307,000 tonnes of the same week in the previous year. According to Cofeed, port arrivals of rapeseed will be 484,000 tonnes in January, 210,000 tonnes in February and 240,000 tonnes in March, under which it is now well supplied. Amid tensions between China and Canada, three rapeseed cargoes still stay at ports, and five others are not allowed to go processed after unloaded and have been sealed up for commodity inspections, which will take a long time and remain as an uncertainty for smooth clearance. Consequently, most oil mills have not signed contracts for shipment in April and beyond under few arrivals in March, so that rapeseed supply may tighten in March and April.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stock
This week (as of Jan. 18th), rapeseed oil stock has decreased to 522,800 tonnes, down 6,200 tonnes by 4.77% from 549,000 tonnes last week and up by 76.4% from 296,400 tonnes of the same period last year. More details for stocks:
Fig. 2: China’s Rapeseed Oil Stocks in Recent Years
III. Rapeseed meal stock
This week (as of Jan. 18th), rapeseed meal stock has dwindled to 25,000 tonnes nationwide, up 2,000 tonnes by 8.7% from 23,000 tonnes last week and down by 68.7% from 79,900 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
