This week (ended Aug. 16th), rapeseed inventory totals 298,000 tonnes in domestic coastal areas, a reduction of 40,000 tonnes by 11.83% from 338,000 tonnes last week and by 57.73% from 705,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 12.82% to 204,000 tonnes from 234,000 tonnes last week and by 59.76% from 507,000 tonnes of the same week in the previous year. According to Cofeed, there will be only one cargo of Canadian rapeseed and 10,000 tonnes from Australia for August shipments 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 process of purchase, loading and arrival. This will probably result in tight supply outlook of rapeseed, and some foreign-owned factories in Yingkou, Liaoning have turned to purchase domestic rapeseed for crush, but the quantity remains small. 

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

This week (ended Aug. 16th), rapeseed oil stock is 488,500 tonnes, an increase of 6,400 tonnes by 1.33% from 482,100 tonnes last week yet a reduction by 8.23% from 532,300 tonnes of the same period last year. More details for stocks:

Fig. 2: China’s Rapeseed Oil Stocks in Recent Years

This week (ended Aug. 16th), rapeseed meal stock has totaled 48,800 tonnes nationwide, down 5,200 tonnes by 9.63% from 54,000 tonnes last week yet up by 11.93% from 43,600 tonnes of the same period last year. More details for stocks:

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