This week (ended Nov. 29th), rapeseed inventory totals 131,000 tonnes in domestic coastal areas, an increase of 53,000 tonnes by 67.95% from 78,000 tonnes last week yet a reduction by 70.23% from 440,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 84,000 tonnes, up 104.9% from 41,000 tonnes last week yet down by 75.8%% from 347,000 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 180,000 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 there is a thaw, it will take some time for the process of purchase, loading and arrival. Currently, only several private importers still have rapeseed arriving at ports. Rapeseed supply will remain tight later.

Fig. 1: China’s Rapeseed Stocks in Recent Years

This week (ended Nov. 29th), rapeseed oil stock is 359,300 tonnes in domestic coastal regions, down 23,300 tonnes by 6.09% from 382,600 tonnes last week and down by 39.97% from 598,500 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. 29th), rapeseed meal stock has totaled 18,700 tonnes in domestic coastal regions, down 10,300 tonnes by 35.52% from 29,000 tonnes last week and down by 29.43% from 26,500 tonnes of the same period last year. More details for stocks:

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