Today is 04/27/2024
I. Rapeseed: stocks and port arrivals
This week (ending July 31st), China’s rapeseed inventory totals 338,000 tonnes in coastal areas, up 62,000 tonnes or 22.46% from 276,000 tonnes last week and up by 0.9% from 335,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 338,000 tonnes, up 22.46% from 276,000 tonnes last week and up down by 60.95% from 210,000 tonnes of the same week in the previous year.
China’s rapeseed imports are small amid a stalemate with Canada, but are centralized to only several private and foreign-funded companies. The imports include 258,000 tonnes from Canada and 30,000 tonnes from Australia in July and 240,000 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.
|
Area/Enterprise |
Rapeseed Stocks (0,000 tonnes) |
||
|
Week 31 |
Week 30 |
Var. |
|
|
Guangxi |
8.9 |
11.6 |
-2.7 |
|
Guangdong |
3.6 |
5.3 |
-1.7 |
|
Fujian |
21.3 |
10.7 |
10.6 |
|
Yingkou Kerry, Liaoning |
0 |
0 |
0 |
|
Jiangsu |
0 |
0 |
0 |
|
Total |
33.8 |
27.6 |
6.2 |
Fig. 1: China’s Rapeseed Stocks in Recent Years
II. Rapeseed oil stocks
This week (ending July 31st), rapeseed oil stocks are 217,900 tonnes in domestic coastal regions, down 6,200 tonnes by 2.77% from 224,100 tonnes last week and down by 57.35% from 510,900 tonnes of the same period last year. More details for stocks:
|
Area/Enterprise |
Rapeseed Oil Stocks (tonne) |
||
|
Week 31 |
Week 30 |
Var. |
|
|
Guangxi |
19,000 |
18,000 |
1,000 |
|
Guangdong |
7,000 |
7,200 |
-200 |
|
Fujian |
5,000 |
4,000 |
1,000 |
|
Yingkou Kerry, Liaoning |
1,600 |
1,600 |
0 |
|
Jiangsu |
191,500 |
185,500 |
6,000 |
|
Total |
224,100 |
216,300 |
7,800 |
Fig. 2: China’s Rapeseed Oil Stocks in Recent Years
III. Rapeseed meal stocks
This week (ending July 31st), rapeseed meal stock has totaled 33,500 tonnes in domestic coastal regions, up 11,500 tonnes by 52.27% from 22,000 tonnes last week yet down by 52.27% from 49,500 tonnes of the same period last year. More details for stocks:
|
Area/Enterprise |
Rapeseed Meal Stocks (tonne) |
||
|
Week 31 |
Week 30 |
Var. |
|
|
Guangxi |
22,000 |
12,000 |
10,000 |
|
Guangdong |
1,000 |
0 |
1,000 |
|
Fujian |
10,500 |
10,000 |
500 |
|
Yingkou Kerry, Liaoning |
0 |
0 |
0 |
|
Jiangsu |
0 |
0 |
0 |
|
Total |
33,500 |
22,000 |
11,500 |
Fig. 3: China’s Rapeseed Meal Stocks in Recent Years