This week (ended Nov. 8th), rapeseed inventory totals 156,000 tonnes in domestic coastal areas, a reduction of 9,500 tonnes by 5.74% from 165,500 tonnes last week and a reduction by 63.03% from 422,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 119,000 tonnes, down by 5.18% from 125,500 tonnes last week and down by 63.61% from 327,000 tonnes of the same week in the previous year. China and Canada are still in a stalemate. According to Cofeed, there will be only 3 cargoes of Canadian rapeseed and 30,000 tonnes of Australian rapeseed in November, and 120,000 tonnes in December. 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. 8th), rapeseed oil stock is 421,300 tonnes, down 17,500 tonnes by 3.99% from 438,800 tonnes last week and down by 23.95% from 554,000 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. 8th), rapeseed meal stock has totaled 24,000 tonnes nationwide, up 5,000 tonnes by 26.32% from 19,000 tonnes last week and up by 45.45% from 16,500 tonnes of the same period last year. More details for stocks:

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