This week (ended Jan 3rd), rapeseed inventory totals 78,000 tonnes in domestic coastal areas, a reduction of 25,000 tonnes by 24.27% from 103,000 tonnes last week and by 82.8% from 453,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 72,000 tonnes, down 30.1% from 103,000 tonnes last week and down by 73.24% from 291,500 tonnes of the same week in the previous year. China and Canada are still in a stalemate. According to Cofeed, there will be 3 Australian cargoes or 90,000 tonnes as well as 60,000 tonnes of Canadian rapeseed in January, and 1 Australian cargo as well as 60,000 tonnes of Canadian rapeseed in February. 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 Jan 3rd), rapeseed oil stock is 319,200 tonnes in domestic coastal regions, down 22,600 tonnes by 6.61% from 341,800 tonnes last week and down by 39.40% from 526,700 tonnes of the same period last year. More details for stocks:

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

This week (ended Jan 3rd), rapeseed meal stock has totaled 23,500 tonnes in domestic coastal regions, up 7,500 tonnes by 46.87% from 16,000 tonnes last week yet down by 14.54% from 27,500 tonnes of the same period last year. More details for stocks:

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