This week (ended Oct. 18th), rapeseed inventory totals 263,000 tonnes in domestic coastal areas, an increase of 34,000 tonnes by 14.85% from 229,000 tonnes last week yet a reduction by 39.54% from 435,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 183,000 tonnes, up by 27.97% from 143,000 tonnes last week yet down by 50% from 366,000 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. 18th), rapeseed oil stock is 463,000 tonnes, down 9,200 tonnes by 1.95% from 472,200 tonnes last week and down by 9.97% from 514,300 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. 18th), rapeseed meal stock has totaled 33,700 tonnes nationwide, down 5,800 tonnes by 14.68% from 39,500 tonnes last week and up by 3270% from 1,000 tonnes of the same period last year. More details for stocks:

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