I. Rapeseed: stocks and port arrivals

This week (ending Sept 4), China’s rapeseed inventory totals 453,000 tonnes in coastal areas, up 70,000 tonnes or 18.28% from 383,000 tonnes last week and up 96.1% from 231,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 453,000 tonnes, up 18.28% from 383,000 tonnes last week and up by 179.63% from 162,000 tonnes of the same week in the previous year.

Tensions between Beijing and Ottawa are capping off rapeseed imports in China, and only several private-owned and foreign-funded oil mills are making imports. The imports from Canada are forecast to be 120,000 tonnes in September and 300,000 tonnes in October, according to Cofeed. Domestic companies may not make bulk purchases until there is a thaw in bilateral tensions. In the first ruling by the Canadian court on May 28, HUAWEI Meng Wanzhou failed to get released and will have to stay for more hearings. And later, Canada even followed the United States to make groundless sanctions on Hong Kong due to the National Security Law. In addition, China and Australia are also in souring relations. Overall, China’s rapeseed imports will remain small but not be totally interrupted.

Fig. 1: China’s Rapeseed Stocks in Recent Years

II. Rapeseed oil stocks

This week (ending Sept 4), rapeseed oil stocks are 233,700 tonnes in domestic coastal regions, up 6,800 tonnes or 2.3% from 226,900 tonnes last week and down by 47.85% from 448,100 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 Sept 4), rapeseed meal stock has totaled 6,300 tonnes in domestic coastal regions, down 6,900 tonnes or 52.27% from 13,200 tonnes last week and down by 87.27% from 49,500 tonnes of the same period last year. More details for stocks:

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