I. Rapeseed: stock and port arrival
This week (as of Feb. 15th), total rapeseed inventories have piled up to 601,500 tonnes in domestic coastal areas, up 103,000 tonnes by 20.66% from 498,500 tonnes last week and up by 9.76% from 548,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has mounted up to 386,500 tonnes, up by 13.84% from 339,500 tonnes last week and 1.71% from 380,000 tonnes of the same week in the previous year. According to Cofeed, port arrivals of rapeseed will be 306,000 tonnes in February and 300,000 tonnes in March. Rapeseed supply has been liberal in February when oil mills have halted for the Spring Festival holiday, but it will likely get tight later since oil mills have been cautious in signing forward contracts amid strained tensions between China and Canada, with only one cargo in April and two in May. Rapeseed supply will start tightening in the second quarter in this scenario.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stock
This week (as of Feb. 15th), rapeseed oil stock is 531,700 tonnes, a reduction of 11,300 tonnes by 4.43% from 543,000 tonnes last week yet an increment by 126.5% from 234,700 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 Feb. 15th), rapeseed meal stock has dwindled to 18,000 tonnes nationwide, down 9,000 tonnes by 33.3% from 27,000 tonnes last week and down by 68.9% from 58,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
