According to the Australia Bureau of Statistics (ABS), in October of this year the country exported 384.7 thsd tonnes of canola, up 5% compared with the previous month and almost 10 times compared with the result of October last year (39.9 thsd tonnes), Grain Central reports.
As noted, the active volumes of the oilseed shipments from the country in the current year are the result of the early and rapid start of the oilseed harvesting campaign in Australia.
France is the top importer
In the reporting month, the main destinations of Australian canola oil shipments were France (98.3 thsd tonnes), Japan (82.9 thsd tonnes) and Mexico (81.4 thsd tonnes).
It is also worth mentioning that according to the latest forecasts of ABARES analysts, the canola harvest in Australia in 2023/24 MY may reach 5.52 mln tonnes, which will be significantly lower than the previous season (8.27 mln tonnes).
Source: Apkinform