China increases Indian rapeseed meal purchases after Canadian canola import duty

China has bought 52,000 tonnes of Indian rapeseed meal in the past three weeks, four times the amount Beijing will import from India in all of 2024, after Chinese authorities imposed a 100 percent retaliatory tariff on Canadian canola imports, industry sources told Reuters. Rapeseed meal exports from India will help China, the world’s largest consumer, replace imports from Canada while easing pressure on domestic rapeseed prices in India, which has stockpiled large quantities of the widely used animal feed. “Chinese buyers have started showing interest in Indian rapeseed meal in the past few weeks due to tariffs on Canadian shipments,” a top rapeseed meal exporter said. China imposed a 100 percent retaliatory tariff on Canadian canola oil and meal imports from March 20. The sources, who declined to be identified because they were not authorized to speak to the media, said China had bought Indian rapeseed meal for urgent delivery at a price of between $220 and $235 a tonne ...