News

Australia exports 523,905 tons of canola in March

Published May 13, 2024

Tridge summary

Australia's canola exports in March fell 31% to 523,905 tonnes from February and were 12% lower than the previous year, totaling 3.2 million tonnes for the first half of the marketing year. Germany, Japan, and the United Arab Emirates were the top recipients. Lachstock Consulting predicts that 1.7 million tonnes more will be shipped in the current quarter, bringing the total exports for the 2023-24 marketing year to 4.92 million tonnes, which is about 2% lower than the previous year and around 87% of the total forecast exports. The balance sheet is tight in South Australia, Victoria, and New South Wales, and most exports are expected to be done by June.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australia exported 523,905 tonnes of canola in March, according to the latest data from the Australian Bureau of Statistics. The figure is down 31 percent from 762,209t shipped in February, and is 12pc below the 597,555t shipped in March 2023. The March total has brought total shipments for the first half of Australia’s marketing year to 3.2 million tonnes (Mt), down from 3.4Mt shipped in the previous corresponding period. Germany on 126,731t was the top destination for March-shipped canola, followed by Japan on 103,546t and the United Arab Emirates on 65,526t. In its monthly canola supply-and-demand report released yesterday, Lachstock Consulting said shipping stems indicate a further 1.7Mt is to be shipped in the current quarter. Lachstock said this would put 2023-24 Oct-Jun exports at 4.92Mt, around 2pc behind this time last year, and at around 87pc of total forecast exports. “The fast early place means that the balance sheet is getting very tight in South Australia, Victoria ...
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