This week (ended Feb 7), rapeseed inventory totals 115,000 tonnes in domestic coastal areas, a reduction of 14,000 tonnes by 10.85% from 129,000 tonnes last week and by 80.88% from 601,500 tonnes of the corresponding period last year. Among them, stock in Guangxi, Guangdong and Fujian is 105,000 tonnes, down 13.2% from 121,000 tonnes last week and down by 72.83% 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 60,000 tonnes of Australian rapeseed and 120,000 tonnes of Canadian rapeseed in February, and 60,000 tonnes of Australian rapeseed and 120,000 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 Feb 7), rapeseed oil stock is 299,400 tonnes in domestic coastal regions, up 17,100 tonnes by 6.06% from 282,300 tonnes last week yet down by 44.86% from 543,000 tonnes of the same period last year. More details for stocks:

 

 

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

 

 

This week (ended Feb 7), rapeseed meal stock has totaled 15,000 tonnes in domestic coastal regions, flat with 15,000 tonnes last week yet down by 44.44% from 27,000 tonnes of the same period last year. More details for stocks:

 

 

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