In June, Canada exported the lowest volume of canola in the last 9 months.

According to Oil World (Germany), in June, Canada exported only 292,000 tons of canola seeds to external markets, which is a 48% decrease compared to the previous month (561,000 tons) and represents the lowest export volume in the last 9 months.

It is noted that the low export pace was attributed to reduced demand from China during that period. However, from January to June 2023, Canadian canola shipments to China sharply increased to 2.4 million tons (+2 million tons), fully compensating for the annual reduction in shipments to the EU, Japan, and the USA.

In July, experts expect canola exports from Canada to resume to around 480-500 thousand tons. Therefore, in the 2022/23 marketing year, Canada could export a total of 7.6 million tons of oilseeds, exceeding the previous year’s result by 2.3 million tons.