I. Rapeseed: stocks and port arrivals
This week (ending Apr. 10th), rapeseed inventory totals 194,000 tonnes in domestic coastal areas, a reduction of 64,000 tonnes or 24.81% from 258,000 tonnes last week yet down by 73.17% from 723,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 144,000 tonnes, down 27.3% from 198,000 tonnes last week yet down by 74.29% from 560,000 tonnes of the same week in the previous year. Rapeseed imports are small amid a stalemate between China and Canada. The imports include 370,000 tonnes from Canada in April, and 240,000 tonnes from Canada and 60,000 tonnes from in May. Only when there is a thaw between China and Canada will Chinese firms start to buy Canadian rapeseed substantially. Currently, only several private importers and foreign-owned firms still have rapeseed arriving at ports.
On a regular press by China’s Ministry of Foreign Affairs on April 3, 2020, its spokesperson Hua Chunying said, “on the issue of impurity rate in Canadian canola seed imports, the relevant memorandum signed by the competent authorities of China and Canada has expired on March 31, 2020. In order to prevent the introduction of harmful organisms, the Chinese side has decided not to extend the above memorandum. Based on the existing quarantine requirements, it is decided that canola seeds from Canada with the amount of foreign material exceeding 1 per cent of the shipment will not be allowed to enter China.” Hence, participants can keep an eye on the control of foreign material in the shipment.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stocks
This week (ending Apr. 10th), rapeseed oil stock is 232,800 tonnes in domestic coastal regions, down 21,100 tonnes by 8.31% from 253,900 tonnes last week and down by 45.77% from 429,300 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 (ending Apr. 10th), rapeseed meal stock has totaled 29,000 tonnes in domestic coastal regions, up 1,500 tonnes or 5.45% from 27,500 tonnes last week yet down by 22.67% from 37,500 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
