China’s rapeseed meal inventories at oil mills have fallen to historic lows, tightening supply in the domestic protein meal market and raising concerns among feed producers and traders. The sharp decline comes amid reduced rapeseed crushing activity, constrained imports, and steady downstream demand from the livestock and aquaculture sectors. Market participants report that limited rapeseed arrivals at ports and lower crushing margins have curbed production at several oil mills. As a result, rapeseed meal output has declined, while feed manufacturers continue to procure cargoes to meet near-term demand. This imbalance has steadily drawn down existing inventories.
The tight supply situation has lent support to rapeseed meal prices, with some regions witnessing firmer basis levels. Analysts note that substitution with soybean meal remains limited due to pricing dynamics and formulation preferences, keeping demand for rapeseed meal relatively resilient. Looking ahead, market direction will largely depend on upcoming rapeseed import volumes, crushing pace recovery, and overall feed demand trends.
Any improvement in raw material supply could ease the pressure on inventories, while prolonged tightness may sustain price volatility in the protein meal market. Traders are closely monitoring policy developments, import flows, and crush margins as key indicators for the next phase of market movement.
