Sunsirs (April 23) — As of April 17, domestic rapeseed oil inventories stood at 330,000 tons—a week-over-week increase of 20,000 tons and a month-over-month increase of 60,000 tons, though representing a year-over-year decline of 430,000 tons.

The report indicates that the inventory level of 330,000 tons on April 17—marked by sequential increases of 20,000 tons week-over-week and 60,000 tons month-over-month—suggests an increase in short-term supply. Consequently, the spot market is facing pressure from a supply surplus, which could lead to downward pressure on spot prices. Although the year-over-year decline of 430,000 tons reflects a long-term tightness in supply, the sequential data exerts a more immediate influence on current market sentiment. When viewed in conjunction with the futures market, the main rapeseed oil contract (e.g., contract 2701) closed at 9,645 RMB/ton on April 22, 2026—a gain of 88.00 RMB/ton—signaling a recent upward trend; however, the accumulation of inventories may temper future gains and heighten the risk of a price correction in the futures market.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.