I. Rapeseed: stocks and port arrivals
This week (ending Apr. 24th), rapeseed inventory totals 253,000 tonnes in domestic coastal areas, an increase of 63,000 tonnes or 33.16% from 190,000 tonnes last week yet down by 66.01% from 744,400 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 238,000 tonnes, up 48.75% from 160,000 tonnes last week yet down by 56.84% from 551,400 tonnes of the same week in the previous year. Rapeseed imports are small amid a stalemate between China and Canada. The imports include 373,000 tonnes from Canada in April, and 180,000 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. 24th), rapeseed oil stock is 176,800 tonnes in domestic coastal regions, down 13,200 tonnes by 6.95% from 190,000 tonnes last week and down by 56.87% from 409,900 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. 24th), rapeseed meal stock has totaled 17,000 tonnes in domestic coastal regions, down 5,000 tonnes or 22.73% from 22,000 tonnes last week and down by 60.46% from 43,000 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
