I. Rapeseed: stocks and port arrivals
This week (ending Apr. 17th), rapeseed inventory totals 190,000 tonnes in domestic coastal areas, a reduction of 4,000 tonnes or 2.06% from 194,000 tonnes last week and down by 70.72% from 649,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 160,000 tonnes, up 11.1% from 144,000 tonnes last week yet down by 67.08% from 486,000 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. 17th), rapeseed oil stock is 190,000 tonnes in domestic coastal regions, down 42,800 tonnes by 18.38% from 232,800 tonnes last week and down by 54.66% from 419,100 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. 17th), rapeseed meal stock has totaled 22,000 tonnes in domestic coastal regions, down 7,000 tonnes or 24.14% from 29,000 tonnes last week and down by 48.84% from 43,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
