Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Rapeseed oil
Date
01/01/2018
Policy Category
Stocks
Policy Instrument
Public stockholding
Description
Ended public auctions of rapeseed oil sales from state reserves, with dwindling volumes offered pointing to a drying out of government stocks.
Notes
The last round of rapeseed oil sales from state reserves comprised only four auctions, held between mid-January and early February 2018. In total, some 154 thousand tonnes of rapeseed oil have been offered, virtually all of which found a buyer. Average auction prices ranged from CNY 6 000 to CNY 6 343 per tonne (respectively, USD 947 and 1 001). During the two preceding campaigns, sales from government reserves were considerably higher, amounting to, respectively, 2.3 and 2 million tonnes. The sharp drop in disposals points to a contraction in public stocks, which would go hand in hand with the governments decision to terminate nationwide rapeseed procurement and stockpiling (see MPPU July15).
