I. Rapeseed: stock and port arrival
This week (as of July 5th), rapeseed inventory totals 474,000 tonnes in domestic coastal areas, an increase of 1,500 tonnes by 0.32% from 472,500 tonnes last week yet a reduction by 23.92% from 623,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has increased by 3.4% to 289,000 tonnes from 279,500 tonnes last week yet a reduction by 37.2% from 460,000 tonnes of the same week in the previous year. According to Cofeed, there will be only one for July and one for August in subdued import amid tensions between China and Canada. So far, 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 from July and September, 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 July 5th), rapeseed oil stock is 538,100 tonnes, an increase of 6,400 tonnes by 1.20% from 531,700 tonnes last week and by 22.24% from 440,200 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 July 5th), rapeseed meal stock has totaled 34,000 tonnes nationwide, up 9,500 tonnes by 38.77% from 24,500 tonnes last week yet down by 30.61% from 49,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
