Australia’s Jan canola exports drop 6pc from Dec

Australia exported 715,098 tonnes of canola in January, down 6 percent from the December total of 763,347t, according to the latest export data from the Australian Bureau of Statistics.

The December figure has been revised down 14pc from the record 883,885t issued last month, which means the March 2022 canola-export record of 854,950t still stands.

Germany on 238,244t was the biggest market by far, followed by Belgium on 130,726t and Bangladesh on 105,200t.

ABARES last week released its March Agricultural Outlook and Australian Crop reports, including its initial forecast for the 2023-24 crop of 5.4 million tonnes (Mt), down 35pc from the record 8.3Mt grown in 2022-23.

Likewise, area planted to canola is expected to drop sharply from 3.9Mha to 3Mha.

Exports are forecast to total 4.9Mt in 2023-24, down 29pc from the record 6.9Mt being shipped in the current marketing year.

Table 1: Australian canola exports in November and December 2022 and January 2023. Source: ABS

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