This week (ended Nov. 1st), rapeseed inventory totals 165,500 tonnes in domestic coastal areas, a reduction of 44,500 tonnes by 21.2% from 210,000 tonnes last week and a reduction by 59.24% from 406,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 125,500 tonnes, down by 16.3% from 150,000 tonnes last week and down by 58.85% from 305,000 tonnes of the same week in the previous year. According to Cofeed, there will be only 30,000 tonnes of Australian rapeseed in November and 120,000 tonnes of rapeseed imports in December 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 and will spend some time in signing a deal, 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 Nov. 1st), rapeseed oil stock is 438,800 tonnes, down 15,200 tonnes by 3.35% from 454,000 tonnes last week and down by 18.41% from 537,800 tonnes of the same period last year. More details for stocks:

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

This week (ended Nov. 1st), rapeseed meal stock has totaled 19,000 tonnes nationwide, down 8,500 tonnes by 30.91% from 27,500 tonnes last week yet up by 192.31% from 6,500 tonnes of the same period last year. More details for stocks:

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