I. Rapeseed: stocks and port arrivals
This week (ending May 8th), rapeseed inventory totals 213,000 tonnes in domestic coastal areas, a slight increase of 3,000 tonnes or 1.43% from 210,000 tonnes last week yet down by 72.9% from 785,400 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 198,000 tonnes, up 1.54% from 195,000 tonnes last week yet down by 67.13% from 602,400 tonnes of the same week in the previous year. Rapeseed imports are small amid a stalemate between China and Canada. The imports include 240,000 tonnes from Canada and 60,000 tonnes from Australia in May, and 180,000 tonnes from Canada in June. 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 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 8th), rapeseed oil stock is 177,900 tonnes in domestic coastal regions, down 7,700 tonnes by 4.12% from 185,600 tonnes last week and down by 59.75% from 442,000 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 8th), rapeseed meal stock has totaled 14500 tonnes in domestic coastal regions, up 1,000 tonnes or 7.41% from 13,500 tonnes last week yet down by 53.53% from 31,200 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
