China’s Rapeseed Crush Weekly (Week 19, 2019)
Amid a further sharp decline in utilization rate, rapeseed crush in 101 domestic mills surveyed by Cofeed this week (May 4th-10th) has dropped to 28,210 tonnes (imported rapeseed 28,000 tonnes and domestic rapeseed 210 tonnes), down 1,100 tonnes by 3.75% from 29,310 tonnes last week. Meanwhile, utilization rate (capability utilization) has fallen to 5.63% from 5.85%, of which it also declined to 0.08% from 1.98% for domestic rapeseed; but it has picked up to 13.56% from 13.08% last week for imported rapeseed in coastal areas. As several mills will resume their operation, rapeseed crush will increase to 68,000 tonnes and 78,000 tonnes in the next two weeks, yet still at relatively low levels.
Fig. 1: Rapeseed Weekly Crush in China (Week 1, 2016-Week 19, 2019)
Fig. 2: Rapeseed Operating Rate in China (Week 1, 2015-Week 19, 2019)
