I. Rapeseed: stock and port arrival
After customs clearance of Canadian rapeseed, total rapeseed inventories have piled up to 507,500 tonnes in domestic coastal areas, up 142,000 tonnes by 38.85% from 365,500 tonnes last week and up by 22.89% from 413,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has mounted up to 400,500 tonnes, up significantly by 70.79% from 234,500 tonnes last week and 29.19% from 310,000 tonnes of the same week in the previous year. According to Cofeed, port arrivals of rapeseed will be 423,000 tonnes in January, 270,000 tonnes in February and 240,000 tonnes in March. In this case, rapeseed supply will be liberal in January when oil mills will halt for the Spring Festival holiday, but it will likely get tight in March since oil mills have signed relatively few forward contracts amid strained tensions between China and Canada.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II.Rapeseed oil stock
This week (as of Jan. 25th), rapeseed oil stock is 545,400 tonnes, an increment of 28,300 tonnes by 5.47% from 517,100 tonnes last week and by 92.6% from 283,200 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. 25th), rapeseed meal stock has dwindled to 17,500 tonnes nationwide, down 7,500 tonnes by 30% from 25,000 tonnes last week and down by 77.5% from 77,800 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
