Canada processed record volumes of canola in January

Published 2024년 2월 29일

Tridge summary

Canada's canola processing volumes have hit a record high in January, with 937 thousand tons processed, marking a 7% increase from the previous year. This surge is attributed to the robust demand for Canadian canola oil from the US. From August 2023 to January 2024, a record 5.5 million tons of canola were delivered to local MEZs, an increase from 4.9 million tons during the same period in the previous season. However, there has been a significant drop in raw material exports by a third, from 4.88 million tons to 3.28 million tons, since the beginning of the current crop year.

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Original content

Last month canola processing volumes in Canada amounted to 937 thousand tons, which is the highest figure for January observations, reported specialists of Hamburg-based analytical agency OilWorld (Germany). They note that over the year processing of oilseed in the country increased by 7% on the background of active demand for Canadian canola oil from the United States. Overall, experts estimate that from August 2023 to January 2024, a record 5.5 million tons of canola arrived at local MEZs compared to 4.9 million tons in the same period of the previous season. The growth in processing can also be traced against the ...

Source: UkrAgroConsult