Australia’s March canola exports set new record

Australia exported 857,832 tonnes of canola in March, up 41 per cent from the 608,557t shipped in February, according to the latest export data from the Australian Bureau of Statistics (ABS).

The March figure is believed to be represent a record for monthly canola exports out of Australia to beat the 748,982t shipped in March 2021.

Belgium on 193,773t was the biggest market for March 2022 shipments, followed by Germany on 183,258t, France on 147,980t and The Netherlands on 123,241t, and a cargo to the United Kingdom rounded up shipments to Europe for the month.

Additional demand came from Asia and the Middle East, and surprise entrant the United States, which will appear in the April data with what is believed to be its first full cargo ever of Australian canola.

Australia’s canola exports for the January-March quarter total 2.1 million tonnes, close to quadruple the tonnage shipped in the October-December quarter.

The jump reflects new-crop availability, and the string of cargoes heading to offshore markets from ports stretching from Port Kembla in New South Wales to Geraldton in Western Australia.

According to Lachstock Consulting, shipping stems had indicated 600,000-700,000t of canola was to be exported in both April and May before volume reduce to around 400,000t in June.

Table 1: Australian canola exports from October 2021 to March 2022. Source: ABS

Tags: Belgium, Middle East, shipments, Germany, exported, United Kingdom, The Netherlands, Australia, canola, France, United States