Mumbai, 22 March (Commoditiescontrol): The latest customs data reveals that China's import of rapeseed in February was 408,425 MT. This figure represents a decrease of 37.42% from January's import of 652,674 MT and a massive increase of 525.79% from February 2022's import of 65,265 MT.
During the first two months of this year, the cumulative import of rapeseed reached 1,061,099 MT, which is a significant surge of 309.27% compared to the same period last year. During that time, imports were at 259,267 MT. China's import of rapeseed has shown a remarkable increase since November 2022.
In the period of Jan-Feb, Canada was the largest supplier of rapeseed to China, accounting for 90.41% of China's rapeseed imports. Russia followed with 8.25%, and Mongolia with 1.34%.
During the fourth quarter of 2022, the decline of ICE canola futures and bumper harvests in Canada and Russia led to a gradual recovery in global rapeseed supply. As a result, China's import of rapeseed increased from November to February.
(By Commoditiescontrol Bureau: 09820130172)
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