This week (ended Nov. 15th), rapeseed inventory totals 113,000 tonnes in domestic coastal areas, a reduction of 43,000 tonnes by 27.56% from 156,000 tonnes last week and a reduction by 73.1% from 420,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 76,000 tonnes, down by 36.13% from 119,000 tonnes last week and down by 74.06% from 293,000 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 240,000 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 will likely reach a deal until December after Chilean government canceled the APEC summit, and 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. 15th), rapeseed oil stock is 401,100 tonnes, down 20,200 tonnes by 4.79% from 421,300 tonnes last week and down by 29.10% from 565,700 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. 15th), rapeseed meal stock has totaled 26,000 tonnes nationwide, up 2,000 tonnes by 8.33% from 24,000 tonnes last week yet down by 9.41% from 28,700 tonnes of the same period last year. More details for stocks:

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