rapeseed field

China is expanding rapeseed imports significantly

Oil World estimates that China in November and December its rapeseed imports actively increased, bringing the total volume of oil deliveries in the 4th quarter of 2022 to 1,2 million Tonnen could increase, which is 0,4 million tons above the value in the same period last year and will be the largest quarterly value in January-March 2019.

The analysts note that October oil shipments remained relatively low after reducing rapeseed imports in the third quarter of this year to just 3 million tons (-0,2% per year), which was the minimum for more than 63 years are (10 thousand tons). However, experts expect that November and December purchases will increase significantly thanks to active canola shipments from Canada. As reported, Canada shipped 77 million tons of oleic acid to China in October (maximum 0,57 years), and in November, according to preliminary estimates, this value was about 4 million tons.

In addition, Oil World analysts noted that Chinese processors are restricting imports of Australian Rapeseeds could resume. According to traders, China has already been able to do several Oilseeds buy from Australia.

Source: APKinform (Ukraine)

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