This week (ended Oct. 25th), rapeseed inventory totals 210,000 tonnes in domestic coastal areas, a reduction of 53,000 tonnes by 20.15% from 263,000 tonnes last week and a reduction by 45.74% from 387,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 150,000 tonnes, down by 18.03% from 183,000 tonnes last week and down by 55.62% from 338,000 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. 25th), rapeseed oil stock is 454000 tonnes, down 9,000 tonnes by 1.94% from 463,000 tonnes last week and down by 12.56% from 519,200 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. 25th), rapeseed meal stock has totaled 27,500 tonnes nationwide, down 6,200 tonnes by 18.4% from 33,700 tonnes last week yet up by 539.53% from 4,300 tonnes of the same period last year. More details for stocks:

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