Australia's oilseed production has seen a significant increase, reaching 6.4 million tonnes, which is double the previous record. This surge is attributed to favorable conditions in both eastern and western Australia. Canola, a significant portion of this production, is primarily exported to the European Union for biodiesel. The country also plantss genetically modified canola to meet demand. Despite potential increases in Canadian production and Australian yields returning to normal, prices are expected to remain steady in 2022-23 due to high demand for biodiesel and potential supply disruptions from Ukraine.