News

Australia exports 544,045 tons of canola in November

Published Jan 16, 2024

Tridge summary

Australia exported 544,045 tonnes of canola in November, with Germany, the United Arab Emirates, and France being the major destinations. This is a decrease from the 2022 figure of 761,772t, and Lachstock Consulting forecasted December exports at 598,000t. This decrease in exports is attributed to a smaller crop and lower prices, leading to a decrease in canola planting in 2024-25.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australia exported 544,045 tonnes of canola in November, up 43 percent from the October total of 381,506t, according to the latest data from the Australian Bureau of Statistics. Germany on 129,938t was the major destination for November exports, followed by the United Arab Emirates on 119,530t and France on 118,195t. The November 2023 figure is well below the 761,772t shipped in November 2022, as part of Australia’s canola-export record set in the year to 30 September 23 of 6 million tonnes (Mt). According to Lachstock Consulting’s most recent supply-and-demand report for canola released December 21, December exports were forecast at 598,000t. Lachstock said this would put export pace for the first quarter of the marketing year at 20pc below the 2022-23 figure to reflect the smaller crop. Lachstock estimates Australia’s current crop at 5.8Mt, while ABARES is sitting on 5.5Mt, both well down on record 2022-23 production seen by ABARES and others at more than 8Mt. “Area planted to ...
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