Australia continues to reduce canola shipments for the second month in a row

Australia exported 60% less rapeseed in August than a month earlier, the figures were only 180 thousand tons, which is also significantly lower than the figure for August 2024 (373 thousand tons). The data is provided by the Oil World agency (Germany).

Analysts explain the reduction in oilseed shipments for the second month in a row by the limited level of stocks from last year’s harvest. Thus, by the end of June, stocks of canola – the commercial version of rapeseed – in Australia decreased to 0.9 million tons compared to 1.7 million tons a year earlier. In July, the country exported 155.29 thousand tons of canola, which is more than half the figures a year ago (386.03 thousand tons).

The main export destinations were Japan – 58 thousand tons (120 thousand tons in 2024), UAE – 63 (91) thousand tons and Bangladesh – 41 (53) thousand tons.

Deliveries to the EU countries – the main sales market in July and August were not carried out.

In total, since the beginning of the year, the country has sent 3.76 million tons of rapeseed to foreign markets compared to 4.32 million tons in January-August 2024.

However, as previously noted, purchases of Australian rapeseed by China have increased. The Chinese state-owned company COFCO has contracted several ships of the product and analysts estimate the expected export volume at 8% of the total volume of canola imports into the PRC. Accurate data on supply figures will only become available in November.

Tags: Australia, rapeseed oil