This week (ended Oct. 11th), rapeseed inventory totals 229,000 tonnes in domestic coastal areas, an increase of 149,000 tonnes by 186.3% from 133,000 tonnes last week yet a reduction by 35.5% from 355,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian has increased by 186% to 143,000 tonnes from 50,000 tonnes last week yet decreased by 46.24% from 266,000 tonnes of the same week in the previous year. According to Cofeed, there will be only two boatloads of Canadian rapeseed and 42,000 tonnes from Australia for October shipments, and 90,000 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. 11th), rapeseed oil stock is 472,200 tonnes, up 24,300 tonnes by 5.43% from 447,900 tonnes last week yet down by 11.37% 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. 11th), rapeseed meal stock has totaled 39,500 tonnes nationwide, down 5,500 tonnes by 12.22% from 45,000 tonnes last week and up by 1875% from 2,000 tonnes of the same period last year. More details for stocks:

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