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Canadian Canola Exports Rising |
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Written by Neil Billinger - 600 Action News-Local First
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Thursday, 15 January 2009 |
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The editor of an influential German publication estimates nearly 7 million tonnes of Canadian canola will be sold during the current season.
Thomas Mielke with Oil World says that compares to 5.8 million tonnes in the previous year.
China, Japan and Mexico are all buying more Canadian canola. With most of the Australian canola crop going to Europe, Mielke says ''Canada is virtually the only store in town satsifying canola import requirements in the Asian market."
China is in the process of increasing edible oil stocks. Oil World estimates the Chinese will import between 1.8 and 2 million tonnes of canola . . . more than half of the 800,000 tonnes in the previous year. Mielke adds the majority of the Chinese canola imports will come from Canada.
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Last Updated ( Thursday, 22 January 2009 )
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