Australia’s January canola exports down 25pc from December

Australia exported 424,574 tonnes of canola in January, according to the latest data from the Australian Bureau of Statistics. This is down 25 percent from 563,126t exported in December, and 40pc from the 713,188t shipped in January 2023 due mainly to Western Australia having a much smaller 2023-24 crop because of its drier growing season. Germany on 99,340t was the biggest-volume market for January 2024 shipments, followed by Pakistan on 65,785t and Belgium on 58,478t. According to Lachstock Consulting’s March 5 shipping analysis, Australia is on track to see a month-on-month increase for canola exports with 561,000t on the stem. In its canola supply-and-demand report out March 1, and ahead of the opening of the planting window for the Australian crop, Lachstock is tipping a year-on-year drop in canola area as values continue to be pressured lower. Areas planted will depend on rain in the next six to eight weeks. “It could be WA that sees the biggest shift out of canola this ...