In the period from October to December this year, China may purchase about 1.2 million tons of rapeseed, which could be the highest quarterly figure since January-March 2019 according to Oilworld’s report.
According to German experts, only 77 thousand tons of oilseed was imported to China in October. Although in the 3. quarter, imports fell significantly to 200 thousand tons (-63% per year).
Experts expect that purchases will increase significantly in November-December, thanks to the active supply of oilseeds from Canada.
“Chinese processors may also resume imports of Australian canola,” experts say. According to traders, China could have already bought several cargoes of oilseeds from Australia.”