Australia exports 359,392t Aug canola, down 15pc on Jly

Australia exported 359,392 tonnes of canola in August, down 15 percent from the 424,153t shipped in July, according to the latest data from the Australian Bureau of Statistics.

Japan on 130,411t followed by France on 124,324t and the United Arab Emirates on 61,375t were the three largest markets for August-shipped canola.

The August 2023 figure is well up on the August 2022 total of 151,556t, and points to the record 2022-23 crop estimated by ABARES at 8.3 million tonnes (Mt).

Harvest of new crop started last month in, and is gathering pace this month as first deliveries filter into sites as far south as West Wyalong in south-central New South Wales.

ABARES forecasts 2023-24 canola at 5.2Mt, and the figure is seen as having more downside than upside, with recent months being very dry in some key growing regions.

In its April 12 Australian Oilseeds and Products Annual, USDA’s Foreign Agricultural Service estimated Australia’s 2022-23 (Dec-Nov) canola exports at a record 6.3Mt, and 2023-24 shipments at 4.5Mt.

Tags: France, crop, United Arab Emirates, Japan, Australia, export, canola