This week (ended Dec. 6th), rapeseed inventory totals 204,000 tonnes in domestic coastal areas, an increase of 73,000 tonnes by 55.73% from 131,000 tonnes last week yet a reduction by 59.28% from 501,000 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 183,000 tonnes, up 117.86% from 84,000 tonnes last week yet down by 50.27% from 368,000 tonnes of the same week in the previous year. China and Canada are still in a stalemate. According to Cofeed, there will be 180,000 tonnes in December and 1 Australian cargo in January. 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 Dec. 6th), rapeseed oil stock is 347,100 tonnes in domestic coastal regions, down 12,200 tonnes by 3.39% from 359,300 tonnes last week and down by 38.27% from 562,300 tonnes of the same period last year. More details for stocks:

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

This week (ended Dec. 6th), rapeseed meal stock has totaled 17,500 tonnes in domestic coastal regions, down 1,200 tonnes by 6.42% from 18,700 tonnes last week and down by 32.17% from 25,800 tonnes of the same period last year. More details for stocks:

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