I. Rapeseed: stocks and port arrivals
This week (ending June 5th), rapeseed inventory totals 216,000 tonnes in domestic coastal areas, down 51,000 tonnes or 19.1% from 267,000 tonnes last week and down by 57.65% from 510,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 216,000 tonnes, down 17.56% from 262,000 tonnes last week and down by 40.82% from 365,000 tonnes of the same week in the previous year. Rapeseed imports are small amid a stalemate between China and Canada. The imports include 180,000 tonnes from Canada and 90,000 tonnes from Australia in June, and 180,000 tonnes from Canada in July, 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.
In the decision released by the Canadian court, Huawei finance chief Meng Wanzhou did not get released and would have to stay in Canada for more related hearings. This has led to another escalation in tensions between China and Canada, and China and Australia are also in souring relations; hence, participants can keep an eye on rapeseed imports.
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stocks
This week (ending June 5th), rapeseed oil stocks are 158,400 tonnes in domestic coastal regions, down 26,000 tonnes by 14.10% from 184,400 tonnes last week and down by 66.83% from 477,500 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 June 5th), rapeseed meal stock has totaled 34,500 tonnes in domestic coastal regions, unchanged from last week yet down by 36.701% from 54,500 tonnes of the same period last year. More details for stocks:
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years
