I. Rapeseed: stocks and port arrivals

This week (ending July 17th), China’s rapeseed inventory totals 244,000 tonnes in coastal areas, down 53,000 tonnes or 17.85% from 297,000 tonnes last week and down by 45.66% from 449,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 244,000 tonnes, down 17.85% from 297,000 tonnes last week and down by 10.62% from 273,000 tonnes of the same week in the previous year.

China’s rapeseed imports are small amid a stalemate with Canada. The imports include 190,000 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 17th), rapeseed oil stocks are 216,300 tonnes in domestic coastal regions, up 17,900 tonnes by 9.02% from 198,400 tonnes last week yet down by 55.46% from 485,600 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 17th), rapeseed meal stock has totaled 23,900 tonnes in domestic coastal regions, down 800 tonnes by 3.24% from 24,700 tonnes last week and down by 33.61% from 36,000 tonnes of the same period last year. More details for stocks:

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