Australia continues to increase canola exports
In November, the largest buyers of Australian canola were: Germany – 310.1 thsd tonnes, Belgium – 192.9 thsd tonnes and the Netherlands – 65.7 thsd tonnes.
According to the Australian Bureau of Statistics, in November, the country increased the export of canola compared to October by 180 thsd tonnes to 769.5 thsd tonnes, which is significantly higher than in November 2023 (542.3 thsd tonnes).
According to the latest reports of Lachstock Consulting Australian Export Vessel Line-ups, Australia exported 537 thsd tonnes of canola in December, and in January will increase the supplies to 648 thsd tonnes. The report says that in February, the country plans to export another 1.2 mln tons of canola.
The increase in exports is attributed to low soybean stocks in the U.S., dry conditions in Argentina and stricter requirements for biofuels in the EU and Indonesia.
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