Ukraine may increase rapeseed exports due to poor canola harvest in Canada

Canola Seed & Rapeseed

Ukraine

Canada

Published Oct 11, 2021

Tridge summary

Canada exported 388,000 tonnes of canola in the first seven weeks of the new crop since August 1, according to the Canadian Grain Commission, down 71% from last year. Ukraine and Australia could benefit from the Canadian crop failure by gaining new sales. Writes about it Reuters. Canadian canola is sold at high prices, buyers of the world's largest oilseed exporter are increasingly leaning towards less productive countries or alternative vegetable oils such as palm and soybean, fueling global food inflation. According to Agriculture and Food Canada, Canadian canola exports in the crop year ending July 31, 2022, are likely to decline 38% to 6.5 million tonnes, while crushing volumes will fall to 7.5 million tonnes from a record 10, 4 million tons last year. According to the report, Canadian converters, including Bunge, and ADM (Archer Daniels Midland) processed 661.97 thousand tons of canola in August, which is the lowest monthly volume in the past 2-1.5 years.

Original content

Canada exported 388,000 tonnes of canola in the first seven weeks of the new crop since August 1, according to the Canadian Grain Commission, down 71% from last year. Ukraine and Australia could benefit from the Canadian crop failure by gaining new sales. Writes about it Reuters. Canadian canola is sold at high prices, buyers of the world's largest oilseed exporter are increasingly leaning towards less productive countries or alternative vegetable oils such as palm and soybean, fueling global food inflation. According to Agriculture and Food Canada, Canadian canola exports in the crop year ending July 31, 2022 are likely to decline 38% to 6.5 million tonnes, while crushing volumes will fall to 7.5 million tonnes from a record 10 , 4 million tons last year. Canadian converters, including Bunge, and ADM (Archer Daniels Midland) reportedly processed 661.97 kt of canola in August, the lowest monthly volume in the past 2-1.5 years. Currently, ...

Source: Elevatorist