This week (as of Aug. 2nd), rapeseed inventory totals 335,000 tonnes in domestic coastal areas, a reduction of 63,000 tonnes by 15.83% from 398,000 tonnes last week and by 50.37% from 675,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 14.63% to 210,000 tonnes from 246,000 tonnes last week and by 62.02% from 553,000 tonnes of the same week in the previous year. According to Cofeed, there will be only one cargo of rapeseed for August shipment and 20,000 tonnes of Australian rapeseed in September 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 Aug. 2nd), rapeseed oil stock is 510,900 tonnes, an increase of 6,100 tonnes by1.21% from 504,800 tonnes last week and by 5.02% from 486,500 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 Aug. 2nd), rapeseed meal stock has totaled 49,500 tonnes nationwide, up 13,500 tonnes by 37.5% from 36,000 tonnes last week and by 3.13% from 48,000 tonnes of the same period last year. More details for stocks:

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