I. Rapeseed: stock and port arrival

      This week (as of June 28th), rapeseed inventory totals 472,500 tonnes in domestic coastal areas, a reduction of 24,500 tonnes by 4.93% from 497,000 tonnes last week and by 18.11% from 577,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has declined by 6.83% to 279,500 tonnes from 300,000 tonnes last week and by 38.97% from 458,000 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 and August 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 28th), rapeseed oil stock is 531,700 tonnes, an increase of 5,700 tonnes by 1.08% from 526,000 tonnes last week and by 26.84% from 419,200 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 28th), rapeseed meal stock has dropped to 24,500 tonnes nationwide, down 8,500 tonnes by 25.76% from 33,000 tonnes last week and by 56.25% from 56,000 tonnes of the same period last year. More details for stocks:

　　　

　　　

　　　

　　　

      Fig. 3: China’s Rapeseed Meal Stocks in Recent Years