Canada in June exported the lowest volume of canola in 9 months

Canada in June exported only 292 thousand tons of canola seeds – it is almost 1.5 times lower than the level of May this year (561 thousand tons) and is the lowest value for the country for the last 9 months. Such data were announced by specialists of Hamburg analytical agency OilWorld (Germany).

They note that the sharp decline in shipments is due to the decline in demand from China.

“However, in January-June 2023, shipments of Canadian canola to the PRC sharply increased – up to 2.4 million tons (+2 million tons), which fully compensated for the annual decline in sales to the EU, Japan and the U.S.,” – stressed the experts.

However, in July, the rate of sales of the crop to foreign markets, according to experts, will recover – up to 480-500 thousand tons.

“Thus, in total in 2022/23 MY Canada can export 7.6 million tons of oilseed, which will exceed the result of the previous season by 2.3 million tons,” – summarized in the agency.

Tags: China, export, EU, Canada, rapeseed, Japan