This week (Aug. 10th-16th), coastal mills have sharply reduced their operation rate. Thereby, rapeseed crush in 101 domestic mills surveyed by Cofeed has fallen to 45,460 tonnes (imported rapeseed 40,000 tonnes and domestic rapeseed 5,460 tonnes), down 22,000 tonnes by 32.61% from 67,460 tonnes last week. Meanwhile, the operation rate (capability utilization) has moved lower to 9.07% from 13.46% last week, of which it remains at 2.03% for domestic rapeseed and it has gone down to 19.37% from 30.02% last week for imported rapeseed in coastal areas. The crush will fall to 31,000 and 26,000 tonnes respectively in the next two weeks for rapeseed shortage and swelling rapeseed meal inventory; overall, the crush will stay at a low level.

Fig. 1: Rapeseed Weekly Crush in China (Week 1, 2016-Week 33, 2019)

Fig. 2: Rapeseed Operating Rate in China (Week 1, 2015-Week 33, 2019)