News

Australia ships 762,869t canola in February

Canola Seed & Rapeseed
Nuts & Seeds
Australia
Market & Price Trends
Published Apr 15, 2024

Tridge summary

In February 2024, Australia experienced a significant boost in its canola exports, reaching 762,869 tonnes, an 80% increase from January's figures, with Japan, Germany, and Mexico being the primary markets. This surge not only marks a substantial year-on-year growth but also sets a positive tone for the country's export performance. However, projections indicate a 16% decline in the export pace for the February-April 2024 period compared to the previous year, totaling an expected 1.7 million tonnes. The report also touches on the commencement of the 2024-25 canola planting season in southern Australia, noting the adjustments in crop rotations due to the fluctuating values of canola relative to wheat, and underscores the importance of rainfall in major growing regions for a successful sowing season.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australia exported 762,869 tonnes of canola in February, up 80 percent from the 424,712t shipped in January, according to the latest data from the Australian Bureau of Statistics. Japan an 163,734t followed by Germany on 125,412t and Mexico on 85,586t were the three largest markets for February-shipped canola. Year on year, the February 2024 figure sits well above the 592,027t shipped in February 2023, when Belgium, The Netherlands and Japan were the three largest markets. According to Lachstock Consulting’s April 3 Supply and Demand Report – Canola, Australia is expected to export around 1.7 million tonnes (Mt) of canola over February, March and April. “This would put export pace at just over 3.61Mt, down 16pc from last year, and puts us on track at around 66pc of our total export forecast for the year,” the report said. Growers across southern Australia are making a start on planting their 2024-25 canola. “A recent improvement in canola values compared to wheat is likely to ...
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