Australia exports 375,480t of canola in August

Australia exported 375,480 tonnes of canola in August, according to the latest data from the Australian Bureau of Statistics.

This figure is down slightly from 386,034t shipped in July, and sits just above the 358,677t exported in August last year as part of Australia’s record year of canola exports which ended 30 September 2023 and shipped 6 million tonnes (Mt).

For August 2024, Japan on 120,129t was the major market, followed by the United Arab Emirates on 90,732t and Pakistan on 65,038t.

In its latest monthly Roundup Ready Canola Technologies report released October 4, Lachstock Consulting said the recent Australian Government announcement of a Comprehensive Economic Partnership Agreement with the UAE will remove the 5-percent tariff  on Australian canola.

“Australia has long been an exporter to the UAE, a market that is very price dependent on where the Australia prices vs. Canadian values sit.

“The UAE imports around 800,000t a year and could go higher if China does in fact ban Canadian imports eventually.”

The report said the UAE will take the roll of crushing and then re-exporting the oil and meal to China.

Harvesting of Australia’s new-crop canola has started in Western Australia, which is this year expected to produce 2.2Mt, 300,000t below WA ‘s 2023-24 production, according to the September estimate from the Grain Industry Association of WA.

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Tags: export, canola, Pakistan, Production, United Arab Emirates, Japan, Australia, China