Markets

Australia exports 375,480t of canola in August

Liz Wells October 14, 2024

A 69t load of canola from the Carmody family at Cascade tipped at the Esperance Terminal last week to kick off deliveries for the 2024-25 harvest in WA. Photo: CBH Group

AUSTRALIA exported 375,480 tonnes of canola in August, according to the latest data from the Australian Bureau of Statistics.

This figure is down slightly from 386,034t shipped in July, and sits just above the 358,677t exported in August last year as part of Australia’s record year of canola exports which ended 30 September 2023 and shipped 6 million tonnes (Mt).

For August 2024, Japan on 120,129t was the major market, followed by the United Arab Emirates on 90,732t and Pakistan on 65,038t.

In its latest monthly Roundup Ready Canola Technologies report released October 4, Lachstock Consulting said the recent Australian Government announcement of a Comprehensive Economic Partnership Agreement with the UAE will remove the 5-percent tariff  on Australian canola.

“Australia has long been an exporter to the UAE, a market that is very price dependent on where the Australia prices vs. Canadian values sit.

“The UAE imports around 800,000t a year and could go higher if China does in fact ban Canadian
imports eventually.”

The report said the UAE will take the roll of crushing and then re-exporting the oil and meal to China.

Harvesting of Australia’s new-crop canola has started in Western Australia, which is this year expected to produce 2.2Mt, 300,000t below WA ‘s 2023-24 production, according to the September estimate from the Grain Industry Association of WA.

 

CANOLA Jun Jly Aug Tonnes
Argentina 0 13 0 13
Bangladesh 53621 4447 55537 113606
China 500 500 0 1000
France 0 59075 0 59075
Germany 61861 0 0 61861
Japan 129443 152427 120129 401999
Malaysia 2839 3014 3022 8875
Mexico 87950 0 37299 125249
Nepal 13963 14174 3723 31860
Pakistan 36023 0 65038 101061
UAE 58533 152384 90732 301649
TOTAL 444733 386034 375480 1206248

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