Australia reduced rapeseed shipments and has not supplied it to its main EU market
According to the latest data from the Australian Bureau of Statistics, the country exported 155,290 tonnes of canola in July, more than half the year-ago figure (386,030 tonnes), Grain Central reports.
During that month, the oilseed was shipped to Japan (76,360 tonnes), the UAE (64,330 tonnes), and Malaysia (6,580 tonnes). However, no shipments were made from the country to its main sales market, the EU.
However, the publication notes that China has increased its purchases of Australian rapeseed. Specifically, state-owned COFCO has contracted several vessels for the product, and analysts estimate the expected export volume at 8% of China’s total canola imports. Precise data on shipment figures will only be available in November.
Earlier, the U.S. Department of Agriculture’s Foreign Agricultural Service lowered its forecast for canola imports to China, but raised it for canola oil.
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