Investments in the Australian canola processing sector may grow on the back of increased demand for raw materials (canola oil) from the biofuel sector and changing diets in Southeast Asia, Grain Central reports.
Thus, over the past 25 years, the gross oilseed harvest in Australia has grown more than 3.3 times to a record 8.3 million tons in 2023. Canada, Australia’s key competitor in the global market, produced twice as much rapeseed (18.17 million tons in 2022) and processing about half of the total oilseeds received (9.96 million tons in MY 2022/23).
“In this regard, it is planned to attract significant investment to increase processing capacity, as the majority of canola produced in Australia is exported as raw material,” the report said.
Note that major canola processing facilities are now located on Australia’s east coast. The two key industry players are GrainCorp and Cargill.
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