I. Rapeseed: stock and port arrival
This week (as of May 24th), rapeseed inventory totals 638,000 tonnes in domestic coastal areas, a reduction of 91,000 tonnes by 12.48% from 729,000 tonnes last week yet an increment by 4.93% from 608,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has declined by 14.84% to 465,000 tonnes from 546,000 tonnes last week yet increased by 11.24% from 418,000 tonnes of the same week in the previous year. As rapeseed cargoes have almost been canceled for May shipment amid blocked import by tensions between China and Canada, there is one cargo left for Shenheng and one for Yinxiang, 10,000 tonnes from Australia (container), and one cargo left in June, according to Cofeed. Importers are expected to buy new cargoes only after a thaw in relations between Beijing and Ottawa. The development of the trade war between China and the United States will get some updates at least until June when the two presidents are expected to meet at the G20 summit.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stock
This week (as of May 24th), rapeseed oil stock is 466,000 tonnes, an increment of 25,300 tonnes by 5.74% from 440,700 tonnes last week and by 56.69% from 297,400 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 May 24th), rapeseed meal stock has increased to 36,500 tonnes nationwide, up 6,600 tonnes by 22.07% from 29,900 tonnes last week yet down by 37.07% from 58,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
