Drought takes a big bite out of canola exports from Canada
Canola Seed & Rapeseed
Canada
Published Dec 17, 2021
Tridge summary
Analysts thought Canadian canola exports would be the biggest casualty of this year’s short crop and so far that appears to be the case.
Original content
Exports were down almost 50 percent through the first three months of the 2021-22 campaign compared to a nine percent reduction in domestic crush, according to the United States Department of Agriculture. That is the result of Canadian farmers harvesting 12.6 million tonnes of the oilseed, the smallest crop in 14 years. Sales to all of Canada’s major buyers are way down but some have fared worse than others. “Exports to the (European Union) fell by nearly two-thirds, the (United Arab Emirates) experienced a 50 percent dip and China and Japan saw 40 percent declines,” stated the USDA in its recent Oilseeds: World Markets and Trade report. The reductions were “more muted” for North American markets with sales to Mexico down 12 percent and the U.S. just four percent. Importers are turning to Australia to displace lost volumes from Canada. The country harvested a record 5.5 million tonnes of canola and is forecast to ship out a record 4.6 million tonnes of the crop. That would rank a ...
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