I. Rapeseed: stocks and port arrivals

This week (ending July 24th), China’s rapeseed inventory totals 276,000 tonnes in coastal areas, up 32,000 tonnes or 13.1% from 344,000 tonnes last week yet down by 30.65% from 398,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 276,000 tonnes, up 13.1% from 244,000 tonnes last week yet down by 12.2% from 246,000 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 24th), rapeseed oil stocks are 224,100 tonnes in domestic coastal regions, up 7,800 tonnes by 3.61% from 216,300 tonnes last week yet down by 55.61% from 504,800 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 24th), rapeseed meal stock has totaled 22,000 tonnes in domestic coastal regions, down 1,900 tonnes by 7.95% from 23,900 tonnes last week and down by 38.89% from 36,000 tonnes of the same period last year. More details for stocks:

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