About 213.5 thousand tons of Australian rapeseed were sold to foreign markets in November 2021, Grain Central reports, citing monitoring data from Australian Bureau of Statistics (ABS) analysts.
Compared to October 2021 (14.4 thousand tons), the oilseed export figures increased almost 15 times. However, the volume is slightly lower than the November 2020 figure (233.9 thousand tons).
During the reporting period, according to ABS experts, most of the rapeseed from Australia was sent to Pakistan (64.4 thousand tons), the Netherlands (57.9 thousand tons) and Belgium (54.6 thousand tons). Exports to these areas in October and September 2021 were not carried out.
Market participants note a high demand for Australian rapeseed on the world market due to a reduced supply of canola from Canada due to a low harvest due to drought.
ABS analysts also forecast that Australian traders will sell 5.7 million tons of canola abroad in the 2021/22 marketing year amid a bumper crop.
If experts’ expectations are met, canola exports from the country at the end of the current season may surpass 2012/13 MY record of 3.5 million tons.