This week (ended Nov. 22nd), rapeseed inventory totals 78,000 tonnes in domestic coastal areas, a reduction of 35,000 tonnes by 30.97% from 113,000 tonnes last week and a reduction by 80.3% from 396,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 41,000 tonnes, down by 46.05% from 76,000 tonnes last week and down by 85.96% from 292,000 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. 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. 22nd), rapeseed oil stock is 382,600 tonnes, down 18,500 tonnes by 4.61% from 401,100 tonnes last week and down by 39.04% from 627,600 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. 22nd), rapeseed meal stock has totaled 29,000 tonnes nationwide, up 3,000 tonnes by 11.54% from 26,000 tonnes last week yet down by 21.62% from 37,000 tonnes of the same period last year. More details for stocks:

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