Canola oil growers facing an opportunity in exporting crude oil to China

Canola seed and oil producers in Australia are experiencing a unique opportunity to export crude canola oil to China.

Canola oil has two main types for commercializing in bulk, crude canola oil, and RBD canola oil. The first one being non-refined oil (crude) the second one Refined, Bleached, and Deodorized oil. Only RBD canola oil is ready to be used for human consumption.

The opportunity has arisen due to an increasing interest in crude oil from China, which is increasing global market prices and narrowing the gap between the two oil types. Today, it is generally more profitable for Australian canola oil-exporting to China to focus more on the crude oil than RBD.