This week (ended Dec. 20th), rapeseed inventory totals 150,000 tonnes in domestic coastal areas, a reduction of 42,000 tonnes by 21.88% from 192,000 tonnes last week and by 67.98% from 468,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 150,000 tonnes, down 21.88% from 192,000 tonnes last week yet down by 61.19% from 386,500 tonnes of the same week in the previous year. China and Canada are still in a stalemate. According to Cofeed, there will be 150,000 tonnes in December, and 3 Australian cargoes or 90,000 tonnes as well as 60,000 tonnes of Canadian rapeseed 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. 20th), rapeseed oil stock is 347,000 tonnes in domestic coastal regions, down 2,800 tonnes by 0.80% from 349,800 tonnes last week and down by 39.67% from 575,200 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. 20th), rapeseed meal stock has totaled 13,000 tonnes in domestic coastal regions, up 1,000 tonnes by 8.33% from 12,000 tonnes last week yet down by 58.73% from 31,500 tonnes of the same period last year. More details for stocks:

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