I. Rapeseed: stock and port arrival
This week (as of July 19th), rapeseed inventory totals 449,000 tonnes in domestic coastal areas, a reduction of 52,000 tonnes by 10.38% from 501,000 tonnes last week and by 27.35% from 618,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 13.61% to 273,000 tonnes from 316,000 tonnes last week and by 45.62% from 502,000 tonnes of the same week in the previous year. According to Cofeed, there will be only one cargo and 10,000 tonnes of Australian rapeseed for July and one cargo 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 19th), rapeseed oil stock is 485,600 tonnes, a reduction of 25,100 tonnes by 4.91% from 510,700 tonnes last week and by 0.90% from 490,000 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 19th), rapeseed meal stock has totaled 36,000 tonnes nationwide, up 1,900 tonnes by 5.57% from 34,100 tonnes last week and in line with 36,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
