Markets

Australia exports 384,756t canola in October

Liz Wells, December 15, 2023

A paddock of PY422G canola being harvested by Woodside Pastoral in WA’s Avon Valley. Photo: Pioneer Seeds – Australia

AUSTRALIA exported 384,756 tonnes of canola in October, according to the latest data from the Australian Bureau of Statistics.

The figure is up 5 percent from the 366,412t shipped in September, and is almost a tenfold increase on the 39,964t exported in October 2022.

The difference between the October 2022 and October 2023 figures reflects the early and fast start to this year’s harvest being in stark contrast to the late and slow start of last year’s harvest.

France on 98,348t, Japan on 82,800t and Mexico on 81,431t were the three biggest markets for Australian canola exported in October 2023.

In its latest Canola Market Wire released on Tuesday, Lachstock Consulting said GM canola accounted for 1.39 million tonnes (Mt), or 58pc, of Western Australia’s canola received to date.

The New South Wales and South Australian canola harvests are close to over, but a proportion of the Victorian crop remains unharvested following rain delays.

“Line-ups data indicates that canola exports are off to a strong start for the 2023-24 marketing year,” the Lachstock report said.

“This is despite the expected drop in production, which reflects the high carry-out in WA.

“There is a combined 1.55 million tonnes on the stem for Oct-Dec, and while December volume may continue to build, it is lower compared to the 1.86Mt exported in the first three months of the 2022-23 marketing year.”

China in previous years has been a major importer of Australia’s canola.

In its November Canola S&D Report, Lachstock Consulting said the Australian Government’s improved relationship with China was generating some hope that the market would reopen to Australian canola.

“With Australia’s canola access into China more of a phytosanitary issue rather than a trade dispute the resolution will likely be more subtle, with the timing still uncertain,” the Lachstock report said.

Australia is forecast by ABARES to produce 5.52Mt from the current harvest, down from a record 8.27Mt produced in 2022-23.

CANOLA Aug Sep Oct Tonnes
Bangladesh 0 13109 35010 48119
France 124324 0 98348 222673
Greece 0 0 20000 20000
Hungary 0 42 0 42
Japan 130011 124208 82800 337018
Malaysia 2945 8480 4360 15785
Mexico 38843 31744 81431 152019
Nepal 144 1235 0 1379
New Zealand 830 412 823 2064
Pakistan 0 59498 45000 104498
South Korea 205 409 201 815
UAE 61375 127275 16533 205183
Vietnam 0 0 250 250
TOTAL 358677 366412 384756 1109845

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