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China’s import of rapeseed and its related products in November 2017

2018-01-10 www.mnk-9.com
I. Import of rapeseed
    According to General Administration of Customs, China has imported 459,000 tonnes of rapeseed in November 2017, increasing by 49.9% over last month, but significantly up 50.3% from the same period last year. So far, China's imports of rapeseed total 4,417,300 tonnes from January to November, 32.9% higher than the same period last year, while annual imports in 2017/18 amount to 2,316,900 tonnes, with a year-on-year growth of 45.4%. Particularly, imports of rapeseed are seen falling in straight sessions from July to October in 2017, reaching a nadir in September, nevertheless, November imports recover to a relatively high level of over 0.4 Mln tonnes, ranking the third high in year 2017. That has much to do with the falling import costs in this season when compared with former’s. Import increase in the civil year and the crop year mainly derives from the trade friction between China and Canada last year.

II. Import of rapeseed meal
    According to customs data, China has imported 135,600 tonnes of rapeseed meal at ports in November 2017, surprisingly up 156.84% from last month of 48,900 tonnes, and sharply up 87.5% year on year. Overall, imports of rapeseed meal from January to November this year amount to 904,300 tonnes, twice of that in last year when imports were stumbled by policies. China's total imports of rapeseed meal in the first six months in 2017/18 add up to 544,700 tonnes, with a substantial increase of 73.47% over the same period of year 2016/17. In real terms, average costs for imported rapeseed meal in November are further decreased to USD $312 per tonne, down about USD $4 per tonne from last month, which somehow uplifts businesses’ sentiment in imports. Among all customs districts in China, Nanjing ranks the top one in imports, followed by Huangpu in Guangdong or others in Guangxi in terms of local consumption. Additionally, some areas in the South are still engaged in aquaculture due to favorable temperature there.
  
III. Import of rapeseed oil
    According to customs data, China has imported 41,400 tonnes of rapeseed oil in November 2017, down 16,000 tonnes from 42,100 tonnes attained in the previous month, while imports from January to November this year add up to 692,000 tonnes, up 8.29% from 639,000 tonnes the same period in year 2016.