I. Rapeseed: stock and port arrival
This week (ended Aug. 30th), rapeseed inventory totals 304,000 tonnes in domestic coastal areas, an increase of 15,000 tonnes by 5.19% from 289,000 tonnes last week and by 49% from 596,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has increased by 7.89% to 205,000 tonnes from 190,000 tonnes last week and by 53.2% from 438,000 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
II. Rapeseed oil stock
This week (ended Aug. 30th), rapeseed oil stock is 442,600 tonnes, a reduction of 24,100 tonnes by 5.16% from 466,700 tonnes last week and by 18.74% from 544,700 tonnes of the same period last year. More details for stocks:
Fig. 2: China’s Rapeseed Oil Stocks in Recent Years
III. Rapeseed meal stock
This week (ended Aug. 30th), rapeseed meal stock has totaled 42,300 tonnes nationwide, up 500 tonnes by 1.2% from 41,800 tonnes last week and up by 1.63% from 43,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years