This week (ended Jan. 31st), rapeseed inventory totals 129,000 tonnes in domestic coastal areas, a reduction of 12,000 tonnes by 8.51% from 141,000 tonnes last week (Week 4) and by 74.48% from 505,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 121,000 tonnes, down 9.02% from 133,000 tonnes last week and down by 62.77% from 346,500 tonnes of the same week in the previous year. China and Canada are still in a stalemate. According to Cofeed, there will be 30,000 tonnes of Australian rapeseed and 60,000 tonnes of Canadian rapeseed in February, and 30,000 tonnes of Australian rapeseed and 60,000 tonnes of Canadian rapeseed in March. 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. 31st), rapeseed oil stock is 282,300 tonnes in domestic coastal regions, up 3,500 tonnes by 1.25% from 278,800 tonnes last week yet down by 45.97% from 522,500 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. 31st), rapeseed meal stock has totaled 15,000 tonnes in domestic coastal regions, up 2,000 tonnes by 15.38% from 13,000 tonnes last week yet down by 34.78% from 23,000 tonnes of the same period last year. More details for stocks:

 

 

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