This week (ended Jan. 17th), rapeseed inventory totals 169,000 tonnes in domestic coastal areas, an increase of 73,000 tonnes by 76.04% from 96,000 tonnes last week yet by 53.76% from 365,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 161,000 tonnes, up 82.95% from 88,000 tonnes last week yet down by 31.34% from 234,500 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. 17th), rapeseed oil stock is 272200 tonnes in domestic coastal regions, down 25,000 tonnes by 8.41% from 297,200 tonnes last week and down by 47.36% from 517,100 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. 17th), rapeseed meal stock has totaled 11,000 tonnes in domestic coastal regions, down 5,500 tonnes by 33.33% from 16,500 tonnes last week and down by 56% from 25,000 tonnes of the same period last year. More details for stocks:

 

 

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