I. Rapeseed: stocks and port arrivals

This week (ending July 10th), China’s rapeseed inventory totals 297,000 tonnes in coastal areas, up 13,000 tonnes or 4.58% from 284,000 tonnes last week yet down by 40.72% from 501,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 297,000 tonnes, up 4.58% from 284,000 tonnes last week yet down by 6.01% from 316,000 tonnes of the same week in the previous year.

China’s rapeseed imports are small amid a stalemate with Canada. The imports include 185,000 tonnes from Canada and 30,000 tonnes from Australia in July and 300,000 tonnes from Canada in August, 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, as HUAWEI Meng Wanzhou is still not released by the Canadian court, and Canada even followed the United States to make groundless sanctions on Hong Kong due to the National Security Law. Besides, 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 July 10th), rapeseed oil stocks are 198,400 tonnes in domestic coastal regions, up 7,700 tonnes by 4.04% from 190,700 tonnes last week yet down by 61.15% from 510,700 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 July 10th), rapeseed meal stock has totaled 24,700 tonnes in domestic coastal regions, down 2,300 tonnes by 8.52% from 27,000 tonnes last week and down by 27.56% from 34,100 tonnes of the same period last year. More details for stocks:

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