This week (as of July 26th), rapeseed inventory totals 398,000 tonnes in domestic coastal areas, a reduction of 51,000 tonnes by 11.36% from 449,000 tonnes last week and by 39.67% from 649,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 9.89% to 246,000 tonnes from 273,000 tonnes last week and by 55.03% from 547,000 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, and some foreign-owned factories in Yingkou, Liaoning have turned to purchase domestic rapeseed for crush. 

Fig. 1: China’s Rapeseed Stocks in Recent Years

This week (as of July 26th), 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

　　　

This week (as of July 26th), 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