I. Rapeseed: stocks and port arrivals
This week (ended Feb 14th), rapeseed inventory totals 134,000 tonnes in domestic coastal areas, an increase of 19,000 tonnes by 16.52% from 115,000 tonnes last week yet down by 77.72% from 601,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 124,000 tonnes, up 18.1% from 105,000 tonnes last week yet down by 67.92% from 386,500 tonnes of the same week in the previous year. China and Canada are still in a stalemate. According to Cofeed, there will be 120,000 tonnes of Australian rapeseed and 120,000 tonnes of Canadian rapeseed in February, and 60,000 tonnes of Australian rapeseed and 240,000 tonnes of Canadian rapeseed in March. Only when there is a thaw between China and Canada will Chinese firms start to buy Canadian rapeseed substantially. It is less likely that China and Canada will see a thaw very soon, and even if there is a thaw, it will take some time for the process of purchase, loading and arrival. Currently, only several private importers still have rapeseed arriving at ports. Rapeseed supply will remain tight later.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stocks
This week (ended Feb 14th), rapeseed oil stock is 294,900 tonnes in domestic coastal regions, down 4,500 tonnes by 1.5% from 299,400 tonnes last week and down by 44.54% from 531,700 tonnes of the same period last year. More details for stocks:
Fig. 2: China’s Rapeseed Oil Stocks in Recent Years
III. Rapeseed meal stocks
This week (ended Feb 14th), rapeseed meal stock has totaled 22,000 tonnes in domestic coastal regions, up 7,000 tonnes from 15,000 tonnes last week and up by 22.22% from 18,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
