This week (ended Aug. 23rd), rapeseed inventory totals 289,000 tonnes in domestic coastal areas, a reduction of 9,000 tonnes by 3.02% from 298,000 tonnes last week and by 59.2% from 708,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 6.86% to 190,000 tonnes from 204,000 tonnes last week and by 64.88% from 541,000 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 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 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. 23rd), rapeseed oil stock is 466,700 tonnes, a reduction of 21,800 tonnes by 4.46% from 488,500 tonnes last week and by 15.74% from 553,900 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. 23rd), rapeseed meal stock has totaled 41,800 tonnes nationwide, down 7,000 tonnes by 14.34% from 48,800 tonnes last week yet up by 11.81% from 47,400 tonnes of the same period last year. More details for stocks:

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