This week (ended Jan 10th), rapeseed inventory totals 96,000 tonnes in domestic coastal areas, an increase of 18,000 tonnes by 23.08% from 78,000 tonnes last week yet by 77.54% from 427,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 88,000 tonnes, up 18.18% from 72,000 tonnes last week yet down by 68.29% from 277,500 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 10th), rapeseed oil stock is 297,200 tonnes in domestic coastal regions, down 22,000 tonnes by 6.89% from 319,200 tonnes last week and down by 45.86% from 549,000 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 10th), rapeseed meal stock has totaled 16,500 tonnes in domestic coastal regions, down 7000 tonnes by 29.79% from 23,500 tonnes last week and down by 28.26% from 23,000 tonnes of the same period last year. More details for stocks:

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