This week (ended Oct. 4th), rapeseed inventory totals 80,000 tonnes in domestic coastal areas, a reduction of 53,000 tonnes by 39.85% from 133,000 tonnes last week and by 77.78% from 360,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian has decreased by 51.46% to 50,000 tonnes from 103,000 tonnes last week and by 80% from 250,000 tonnes of the same week in the previous year. According to Cofeed, there will be only two boatloads of Canadian rapeseed and 40,000 tonnes from Australia for October shipments, and 60,000 tonnes of Australian rapeseed in November 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 Oct. 4th), rapeseed oil stock is 447,900 tonnes, up 24,700 tonnes by 5.84% from 423,200 tonnes last week yet down by 15.93% from 532,800 tonnes of the same period last year. More details for stocks:

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

This week (ended Oct. 4th), rapeseed meal stock has totaled 45,000 tonnes nationwide, up 1,000 tonnes by 2.72% from 44,000 tonnes last week and up by 275% from 12,000 tonnes of the same period last year. More details for stocks:

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