I. Rapeseed: stocks and port arrivals

This week (ending June 19th), rapeseed inventory totals 349,000 tonnes in domestic coastal areas, up 170,000 tonnes or 94.97% from 179,000 tonnes last week yet down by 29.78% from 497,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 349,000 tonnes, up 94.97% from 179,000 tonnes last week and up by 16.3% from 300,000 tonnes of the same week in the previous year. Rapeseed imports are small amid a stalemate between China and Canada. The imports include 190,000 tonnes from Canada and 57,000 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. It is less likely that China and Canada will see a thaw in relations very soon, 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 19th), rapeseed oil stocks are 172,700 tonnes in domestic coastal regions, up 8,900 tonnes by 5.43% from 163,800 tonnes last week and down by 67.17% from 526,000 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 June 19th), rapeseed meal stock has totaled 23,500 tonnes in domestic coastal regions, down 3,000 tonnes from 26,500 tonnes last week and down by 28.79% from 33,000 tonnes of the same period last year. More details for stocks:

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