Australian canola exports skyrocket in November

Australia exported 829,745 tonnes of canola in November, more than 20 times the 39,964t shipped in October, according to the latest data from the Australian Bureau of Statistics.

The surge reflects the arrival of new-crop canola at shipping terminals, and the oilseed being in high demand from European biodiesel manufacturers.

The November 2022 figure is up 72pc on the November 2021 revised shipment figure of 482,654t.

For November 2022, Germany on 257,644t was the biggest market, followed by France on 185,570t and Belgium on 125,649t.

Canola appears to have taken precedence in new-crop shipping stems out of South Australia and Western Australia, with the wet and slow start to the New South Wales harvest delaying movement of canola to its terminals.

Australian canola exports are expected to continue at pace until the Northern Hemisphere new-crop arrives mid-year.

Australia’s 2022-23 (Oct-Sep) canola exports, could well total more than 6 million tonnes to reflect the national crop estimated by the Australian Oilseeds Federation at 7.6Mt, and based on domestic consumption being around 1Mt.

Table 1: Australian canola exports for September, October and November 2022. Source: ABS

Tags: Market, Australia, export, canola, France, Oilseed, Belgium, new crop, Germany