Australia nears breakthrough canola deal with China, sources say

Canberra is close to an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China, sources familiar with the matter said, a move towards ending a years-long freeze in the trade. China, the world’s largest canola importer, sources nearly all of its imports from Canada but those supplies could be limited by an anti-dumping probe Beijing is conducting. China imposed 100% tariffs on Canadian canola meal and oil this year amid strained diplomatic ties. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020, mainly due to Chinese rules to stop the spread of fungal plant disease, but the trial cargoes could reopen trade and reduce Canada’s market share. Chinese and Australian officials are finalising a framework to address Beijing’s phytosanitary requirements aimed at preventing the spread of blackleg disease, according to two Australian agriculture industry sources briefed on the negotiations. “It ...