Australia exports 769,478t canola in November

Australia exported 769,478 tonnes of canola in November, according to the latest data from the Australian Bureau of Statistics.

Germany on 310,108t was the biggest market for November-shipped canola, followed by Belgium on 192,979t, and The Netherlands on 65,753t.

The November 2024 figure is well above the 542,317t exported in November 2023, largely as a result of the more challenging growing season in Western Australia which, along with New South Wales, generally starts Australia’s bulk canola shipment program.

According to recent Lachstock Consulting Australian Export Vessel Line-ups reports, Australia is expected to export 648,000t of canola this month after shipping 537,000t in December.

Lachstock’s GM Canola Market Wire released on Monday said 1.2 million tonnes (Mt) of canola is scheduled to load next month.

The report said global markets continue to show “a huge amount of volatility” around oilseeds, with tight US soybean stocks, dry conditions for Argentina’s soybeans, and increased biofuel mandates for Europe and Indonesia contributing.

On the political front, the relationship between the US’ Trump administration and both Canada and China, as well as Canada and China’s bilateral relationship, could impact canola trade, with China and the US being major markets for Canadian canola.

“It is unlikely that Canada loses both China and USA, and just as unlikely they have open access to both markets,” the report said.

“Both scenarios suggest the Candian farmer is likely to repsond by lower planting of canola this spring, nervous about the tariff.”

Tags: China, export, canola, Canada, Belgium, Germany, Market, The Netherlands, Australia