I. Rapeseed: stocks and port arrivals
This week (ending May 22nd), rapeseed inventory totals 216,000 tonnes in domestic coastal areas, up 59,500 tonnes or 38.02% from 156,500 tonnes last week yet down by 66.14% from 638,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 203,000 tonnes, up 43.46% from 141,500 tonnes last week yet down by 56.34% from 465,000 tonnes of the same week in the previous year. Rapeseed imports are small amid a stalemate between China and Canada. The imports include 125,000 tonnes from Canada and 60,000 tonnes from Australia in May, and 180,000 tonnes from Canada and 90,000 tonnes from Australia in June, according to data surveyed by Cofeed. 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 22nd), rapeseed oil stocks are 177,000 tonnes in domestic coastal regions, up 6,500 tonnes by 3.81% from 170,500 tonnes last week yet down by 60.31% from 446,000 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 22nd), rapeseed meal stock has totaled 27,000 tonnes in domestic coastal regions, up 9,500 tonnes or 54.28% from 17,500 tonnes last week yet down by 26.03% from 36,500 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
