SunSirs: Rapeseed and Rapeseed Meal Inventories at Chinese Coastal Oil Plants Rise Month-on-Month
June 24 2026 14:54:27 SunSirs (Selena)
As of June 19, rapeseed inventories at major coastal oil plants stood at 400,000 tonnes, up 40,000 tonnes from the previous week; rapeseed meal inventories were 27,800 tonnes, an increase of 11,300 tonnes; and outstanding contracts totaled 176,800 tonnes, up 15,800 tonnes.
The month-on-month increases in rapeseed and rapeseed meal inventories—40,000 tonnes and 11,300 tonnes respectively—reflect ample raw material supplies and a significant rise in meal stocks. This heightened supply-side pressure is bearish for rapeseed meal prices. On June 22, the settlement price for the dominant rapeseed meal contract (2609) on the Zhengzhou Commodity Exchange (ZCE) was 2,275 RMB/tonne; the price remained flat for the day with a slight increase in open interest, indicating that prices are under downward pressure in the short term.
The reported rise in rapeseed inventories suggests a relatively ample supply of raw materials for rapeseed oil, exerting some downward pressure on prices; however, as specific rapeseed oil inventory data was not released, the bearish impact remains limited. On June 22, the settlement price for the dominant rapeseed oil contract (2609) on the ZCE was 9,703 RMB/tonne, down 41 RMB/tonne for the day, reflecting a weak short-term trend.
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