I. Rapeseed: stock and port arrival
This week (as of July 12th), rapeseed inventory totals 501,000 tonnes in domestic coastal areas, an increase of 27,000 tonnes by 5.7% from 474,000 tonnes last week yet a reduction by 26.75% from684,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has increased by 9.34% to 316,000 tonnes from 289,000 tonnes last week yet a reduction by 41.37% from 539,000 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 12th), rapeseed oil stock is 510，700 tonnes, a reduction of 27，400 tonnes by 5.09% from 538，100 tonnes last week yet an increase by 19.4% from 429,000 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 July 12th), rapeseed meal stock has totaled 34,100 tonnes nationwide, up 100 tonnes by 0.29% from 34,000 tonnes last week and by 30.65% from 26,100 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
