China’s rapeseed imports plummeted by 99.7%

According to customs statistics, China’s rapeseed import volume in November 2025 totaled 1,998.30 tons, a 99.72% decrease from the previous year.

Rapeseed import volumes fell sharply by 99.72% year-on-year, indicating a significant supply shortage and a severe shortage in the spot market, which will lead to higher spot prices. However, significant positive factors are also evident, as high import dependence and a supply shortage could lead to a sharp price increase.

The rapeseed shortage directly drives up the cost of raw materials for rapeseed oil production, putting spot prices under upward pressure. According to futures market data, the price of the main rapeseed oil contract, 2605, rose slightly by 24 yuan, despite high trading volume, indicating biased market expectations and the potential for further futures price increases.

A sharp decline in rapeseed imports has led to higher production costs for rapeseed meal, while limited supply on the spot market has had a positive impact on prices. According to futures market data, despite a decline in the underlying position in the 2605 rapeseed meal contract of 8 yuan, the high position and fundamental support have strengthened medium- and long-term bullish expectations for futures prices.

Tags: China, rapeseed, imports