I. Rapeseed: stock and port arrival
This week (as of Mar. 22nd), total rapeseed inventories have increased to 659,500 tonnes in domestic coastal areas, up 33,000 tonnes by 5.27% from 626,500 tonnes last week yet up by 44.6% from 456,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased to 455,500 tonnes, down by 4.21% from 475,500 tonnes last week yet up by 35.6% from 336,000 tonnes of the same week in the previous year. According to Cofeed, port arrivals of rapeseed will be 605,000 tonnes in March yet only 120,000 tonnes in April and 10,000 tonnes from Australian (container) in May due to cancellation of April and May shipments. And there are currently several cargoes waited to be discharged for commodity inspection at port. Importers are expected to buy new cargoes only after a thaw in relations between Beijing and Ottawa.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stock
This week (as of Mar. 22nd), rapeseed oil stock is 447,000 tonnes, a reduction of 43,700 tonnes by 8.9% from 490,700 tonnes last week yet an increment by 46.9% from 304,100 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 Mar. 22nd), rapeseed meal stock has decreased to 36,500 tonnes nationwide, down 8,500 tonnes by 18.9% from 45,000 tonnes last week and down by 49.2% from 71,800 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
