This week (ended Sept. 20th), rapeseed inventory totals 165,000 tonnes in domestic coastal areas, a reduction of 33,000 tonnes by 16.67% from 198,000 tonnes last week and by 65.26% from 475,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 12.9% to 135,000 tonnes from 155,000 tonnes last week and by 63.01% from 365,000 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. Only when there is a thaw between China and Canada will Chinese firms start to buy Canadian rapeseed substantially. China and the United States have resumed their trade talks, but it is less likely that China and Canada will see a thaw very soon, and even if that happens, it will take some time for the process of purchase, loading and arrival. This will probably lead to a tight supply outlook of rapeseed.

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

This week (ended Sept. 20th), rapeseed oil stock is 416,200 tonnes, a reduction of 26,600 tonnes by 6.01% from 442,800 tonnes last week and by 19.77% from 518,800 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. 20th), rapeseed meal stock has totaled 46,200 tonnes nationwide, down 6,300 tonnes by 12% from 52,500 tonnes last week yet up by 26.57% from 36,500 tonnes of the same period last year. More details for stocks:

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