Canola harvest in Canada will exceed 18 mln tons in 2023/24 MY – forecast

The gross harvest of canola in Canada in the season-2023/24 may reach about 18.3 million tons, according to the experts of the Ministry of Agriculture and Food Industry (AAFC). In their December report, they increased the estimate of oilseed production by another 0.9 mln tonnes compared to the previous forecasts.

As for domestic consumption, the figure was adjusted to 10.8 million tons (+0.5 million tons) compared to the previous forecast. The estimate of ending stocks was raised by 0.5 million tons to 1.5 million tons. Exports of the crop are expected to total 7.7 million tons (unchanged).

Upward adjustments were also made to wheat production for the 2023/24 crop – by 2.2 million tons, to 32 million tons, while the forecast for domestic consumption was slightly lowered to 8.6 million tons. Ending stocks were raised by 0.4 million tons to 4 million tons.

Also, the estimate of Canadian barley production was increased by 1.1 million tons to 8.9 million tons, domestic consumption by 0.7 million tons to 6.2 million tons, exports by only 100 thousand tons to 2.8 million tons, and ending stocks by 200 thousand tons to 0.8 million tons.

Tags: Canada, rapeseed