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Stocks of Rapeseed, Rapeseed oil and Rapeseed Meal in Coastal Areas and East China (Week 24, 2019)

2019-06-17 www.cofeed.com
  I. Rapeseed: stock and port arrival

  This week (as of June 14th), rapeseed inventory totals 475,000 tonnes in domestic coastal areas, a reduction of 35,000 tonnes by 6.86% from 510,000 tonnes last week and by 32.14% from 700,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has declined by 8.22% to 335,000 tonnes from 365,000 tonnes last week and by 35.9% from 523,500 tonnes of the same week in the previous year. According to Cofeed, there will be only two cargoes of rapeseed for June and one for July in subdued import amid tensions between China and Canada, which will keep lingering before a detente between China and the United States whose trade relationship is expected to have some alleviating signs at least until late June at a G20 summit. Therefore, it is less likely that China and Canada will see a thaw, and even if that happens, it will take some time for the procedures of purchase, shipment and delivery. This will result in tight supply outlook of rapeseed in July and August, and some foreign-owned factories in Yingkou, Liaoning has turned to purchase domestic rapeseed for crush. 
   
   
   
   
  Fig. 1: China’s Rapeseed Stocks in Recent Years

  II. Rapeseed oil stock
   
  This week (as of June 14th), rapeseed oil stock is 532,300 tonnes, an increase of 54,800 tonnes by 11.48% from 477,500 tonnes last week and by 36.8% from 389,000 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 June 14th), rapeseed meal stock has dropped to 36,000 tonnes nationwide, down 18,500 tonnes by 33.9% from 54,500 tonnes last week and by 34.8% from 55,200 tonnes of the same period last year. More details for stocks:
   
   
   
   
  Fig. 3: China’s Rapeseed Meal Stocks in Recent Years