This week (ended Sept. 6th), rapeseed inventory totals 231,000 tonnes in domestic coastal areas, a reduction of 73,000 tonnes by 31.6% from 304,000 tonnes last week and by 61.5% from 600,000 tonnes of the same period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 20.98% to 162,000 tonnes from 205,000 tonnes last week and by 61.43% from 420,000 tonnes of the same week in the previous year. According to Cofeed, there will be only one cargo of Canadian rapeseed and 30,000 tonnes from Australia for September shipment, and two cargoes of Canadian rapeseed and 40,000 tonnes of Australian rapeseed in October amid tensions between China and Canada. So far, it is less likely that China and Canada will see a thaw, and even if that happens, it will take some time for the process of purchase, loading and arrival. This will probably result in tight supply outlook of rapeseed, and some foreign-owned factories in Yingkou, Liaoning have turned to purchase domestic rapeseed for crush, but the quantity remains small. 

Fig. 1: China’s Rapeseed Stocks in Recent Years

This week (ended Sept. 6th), rapeseed oil stock is 448,100 tonnes, an increase of 5,500 tonnes by 1.24% from 442,600 tonnes last week yet a reduction by 15.74% from 531,800 tonnes of the same period last year. More details for stocks:

Fig. 2: China’s Rapeseed Oil Stocks in Recent Years

This week (ended Sept. 6th), rapeseed meal stock has totaled 49,500 tonnes nationwide, up 7,200 tonnes by 17.02% from 42,300 tonnes last week and up by 47.76% from 33,500 tonnes of the same period last year. More details for stocks:

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