EU to remain a strong market for Canadian canola oil

Although biofuel demand is down in Europe and across the world, the EU is expected to remain a strong customer for Canadian canola oil. The EU ranks second in imports of Canadian canola so far this year with 1.39 MMT, ahead of China and just behind Japan. In addition, the USDA has reported an expected increase of EU demand for canola oil of 200,000 MT bring their expected 2020-21 demand to 6 MMT.