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Rapeseed prices saw a notable decrease in Chinain April'24. This drop was mainly attributed to traders destocking the old crop and a seasonal decline in demand for the oilseed. With the anticipation of the new crop harvest starting in June, traders are seeking opportunities to sell off existing stock, thus exerting downward pressure on prices. Additionally, the expected higher yields of the upcoming rapeseed crop are causing panic among traders.

By mid-April, the situation had evolved as the availability of Chinese rapeseed somehow went down, reinforcing the ongoing clearance process. However, the off-season in downstream demand persisted, adversely affecting market sales and compelling traders to lower their prices in an effort to stimulate sales. Despite the strong inclination among traders to reduce prices, it was anticipated that the domestic rapeseed market would stabilize after a slight decline.

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As April furthered toward the end, the continued off-season for downstream demand led to a strong willingness among traders to reduce prices and clear out inventory. Concurrently, the new rapeseed crops were thriving, raising expectations for higher yields. Despite passive purchasing by oil factories, the market conditions pointed towards a slight stabilization of domestic rapeseed prices, however, after a modest downturn.