COFCO contracts 50 thsd tons of Australian canola

Chinese state-owned company COFCO has contracted about 50,000 tonnes of Australian canola of the new crop, Reuters reports, citing traders.
The deal was concluded just a couple of days after the introduction of temporary increased tariffs on products from Canada – 75.8%. This is the largest supplier of this crop.
Australia, the second-largest canola exporter, lost access to the Chinese market in 2020 mainly due to Chinese phytosanitary requirements for the blackleg fungus.
COFCO contracted canola for delivery from Australia in November-December at a price below $ 600 per ton, including freight. Negotiations are underway on other similar deals, the sources said.
In July, it became known about trial batches that Australian farmers were preparing for shipment. It is not yet clear whether the volumes contracted by COFCO are included in these batches.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
Connecting Industry Leaders: Highlights from BLACK SEA OIL TRADE-2025
Kyrgyz Authorities Push for Expanded Winter Wheat Cultivation
India’s vegetable oil imports will rise to record levels
Harvest delays in Kazakhstan lead to deteriorating wheat quality
Global prices for palm and soy oil to rise in early 2026, sunflower oil to drop – ...
Write to us
Our manager will contact you soon