I. Rapeseed: stocks and port arrivals
This week (ending May 1st), rapeseed inventory totals 210,000 tonnes in domestic coastal areas, down 43,000 tonnes or 16.9% from 253,000 tonnes last week and down by 71.8% from 744,400 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 195,000 tonnes, down 18.07% from 238,000 tonnes last week and down by 64.64% 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 May 1st), rapeseed oil stock is 185,600 tonnes in domestic coastal regions, up 8,800 tonnes by 4.98% from 176,800 tonnes last week yet down by 55% from 412,400 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 May 1st), rapeseed meal stock has totaled 13,500 tonnes in domestic coastal regions, down 3,500 tonnes or 20.59% from 17,000 tonnes last week and down by 63.22% from 36,700 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
