I. Rapeseed: stocks and port arrivals

This week (ending Sept 25), China’s rapeseed inventory totals 394,000 tonnes in coastal areas, up 1,000 tonnes or 0.25% from 393,000 tonnes last week and up 196.24% from 133,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 394,000 tonnes, up 0.25% from 393,000 tonnes last week and up 282.5% from 103,000 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 128,000 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 25), rapeseed oil stocks are 207,100 tonnes in domestic coastal regions, down 14,300 tonnes or 6.46% from 221,400 tonnes last week and down by 51.06% from 423,200 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 25), rapeseed meal stock has totaled 1,000 tonnes in domestic coastal regions, down 1,000 tonnes or 50% from 2,000 tonnes last week and down by 97.73% from 44,000 tonnes of the same period last year. More details for stocks:

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