I. Rapeseed: stocks and port arrivals

This week (ending June 26th), China’s rapeseed inventory totals 323,000 tonnes in coastal areas, down 26,000 tonnes or 7.45% from 349,000 tonnes last week and down by 31.64% from 472,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 323,000 tonnes, down 7.4% from 349,000 tonnes last week and up by 15.56% from 279,500 tonnes of the same week in the previous year.

China’s rapeseed imports are small amid a stalemate with Canada. The imports include 192,000 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 26th), rapeseed oil stocks are 186,200 tonnes in domestic coastal regions, up 13,500 tonnes by 7.82% from 172,700 tonnes last week yet down by 64.98% from 531,700 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 26th), rapeseed meal stock has totaled 28,000 tonnes in domestic coastal regions, up 4,500 tonnes from 23,500 tonnes last week and up by 14.28% from 24,500 tonnes of the same period last year. More details for stocks:

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