Canada in June exported only 292 thousand tonnes of canola seeds – it is almost 1.5 times lower than the level of May this year (561 thousand tonnes) and is the lowest value for the country for the last 9 months. Such data were announced by specialists of Hamburg analytical agency OilWorld (Germany).
They note that the sharp decline in shipments is due to a decline in demand from China.
“However, in January-June 2023, Canadian canola shipments to China increased sharply to 2.4 million tonnes (+2 million tonnes), which fully compensated for the annual decline in sales to the EU, Japan and the US,” the specialists stressed.
However, in July, the rate of sales of the crop to foreign markets, according to experts, will recover – up to 480-500 thousand tonnes.
“Thus, in total in 2022/23 MY Canada can export 7.6 million tonnes of oilseed, which will exceed the result of the previous season by 2.3 million tonnes”, – summarized in the agency.