I. Rapeseed: stocks and port arrivals

This week (ending June 12th), rapeseed inventory totals 179,000 tonnes in domestic coastal areas, down 37,000 tonnes or 17.13% from 216,000 tonnes last week and down by 62.32% from 475,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 179,000 tonnes, down 17.13% from 262,000 tonnes last week and down by 46.57% from 335,000 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 and 30,000 tonnes from Australia 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 12th), rapeseed oil stocks are 163,800 tonnes in domestic coastal regions, up 5,100 tonnes by 3.41% from 158,400 tonnes last week yet down by 69.23% from 532,300 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 12th), rapeseed meal stock has totaled 26,500 tonnes in domestic coastal regions, down 8,000 tonnes from 34,500 tonnes last week and down by 26.39% from 36,000 tonnes of the same period last year. More details for stocks:

Fig. 3: China’s Rapeseed Meal Stocks in Recent Years