I. Rapeseed: stocks and port arrivals

This week (ending Sept 18), China’s rapeseed inventory totals 393,000 tonnes in coastal areas, down 63,000 tonnes or 13.82% from 456,000 tonnes last week and up 138.2% from 165,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 393,000 tonnes, down 63,000 tonnes or 13.82% from 456,000 tonnes last week and up by 191.1% from 135,000 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 123,000 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 18), rapeseed oil stocks are 221,400 tonnes in domestic coastal regions, down 19,100 tonnes or 7.94% from 240,500 tonnes last week and down by 46.80% from 416,200 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 18), rapeseed meal stock has totaled 2,000 tonnes in domestic coastal regions, down 1,000 tonnes or 33.33% from 3,000 tonnes last week and down by 95.67% from 46,200 tonnes of the same period last year. More details for stocks:

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