I. Rapeseed: stocks and port arrivals

This week (ending Oct 2), China’s rapeseed inventory totals 398,000 tonnes in coastal areas, up 4,000 tonnes or 1.02% from 394,000 tonnes last week and up 397.5% from 80,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 398,000 tonnes, up 4,000 tonnes or 1.02% from 394,000 tonnes last week and up 696% from 50,000 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 300,000 tonnes in October and 120,000 tonnes in November, 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 Oct 2), rapeseed oil stocks are 199,300 tonnes in domestic coastal regions, down 7,800 tonnes or 3.77% from 207,100 tonnes last week and down by 55.5% from 447,900 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 Oct 2), rapeseed meal stock has totaled 0 tonne in domestic coastal regions, down 1,000 tonnes or 100% from 1,000 tonnes last week and down by 100% from 45,000 tonnes of the same period last year. More details for stocks:

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