Canada is processing canola at a record pace in MY 2023/24

In the season-2023/24 canola processing volumes in Canada may reach 10.5-10.7 million tons – it is about 20% higher than the level of the past agricultural year. This assessment was published by experts of the Hamburg-based analytical agency OilWorld (Germany).

Forecasts of experts regarding the increase in indicators do look very realistic, because since the beginning of the 2023/24 MY, according to the national statistics service (Statistics Canada), canola processing has increased to a record 4.57 million tons (+14% compared to the same period last season).

For example, in December 2023, the country processed 943 thousand tons of the oilseed compared to 943.3 thousand tons in November and 826.4 thousand tons in December 2022.

Canola oil production in the said month was 402,200 tons (386,900 tons in November 2023; 345,700 tons in December 2022) and meal production was 549,300 tons (526,400 tons; 485,800 tons).

Tags: Canada, rapeseed