Markets

Australia exports 523,905t canola in March

Liz Wells, May 10, 2024

AUSTRALIA exported 523,905 tonnes of canola in March, according to the latest data from the Australian Bureau of Statistics.

The figure is down 31 percent from 762,209t shipped in February, and is 12pc below the 597,555t shipped in March 2023.

The March total has brought total shipments for the first half of Australia’s marketing year to 3.2 million tonnes (Mt), down from 3.4Mt shipped in the previous corresponding period.

Germany on 126,731t was the top destination for March-shipped canola, followed by Japan on 103,546t and the United Arab Emirates on 65,526t.

In its monthly canola supply-and-demand report released yesterday, Lachstock Consulting said shipping stems indicate a further 1.7Mt is to be shipped in the current quarter.

Lachstock said this would put 2023-24 Oct-Jun exports at 4.92Mt, around 2pc behind this time last year, and at around 87pc of total forecast exports.

“The fast early place means that the balance sheet is getting very tight in South Australia, Victoria and New South Wales, and the bulk of our export program will be done by June,” the report said.

“We have had to make some historical revisions to the SA balance sheet to allow for the record volume expected to be shipped by June.

“WA, on the other hand, will still have above-average carry-out based on current export pace.”

CANOLA Oct-Dec Jan Feb Mar Tonnes
Bangladesh 42864 6543 51436 51642 152485
Belgium 0 58478 66000 59080 183558
Canada 0 0 1 46 47
France 314666 0 53487 63982 432135
Germany 255072 65451 125412 126731 572666
Greece 51743 0 69415 0 121158
Japan 244032 61014 163734 103546 572326
Kuwait 0 21 0 0 21
Malaysia 9578 4346 2937 2014 18875
Mexico 208683 0 85586 32854 327123
Nepal 3341 4480 7125 18031 32977
Netherlands 0 99674 24512 0 124186
New Zealand 3274 0 0 418 3692
Pakistan 182771 79006 50999 0 312776
Philippines 0 10 0 0 10
South Africa 44 0 142 35 221
South Korea 813 0 307 0 1120
UAE 171562 45691 61116 65526 343895
TOTAL 1488444 424714 762209 523905 3199271

Table 1: Australian feed barley exports from October 2023 to March 2024. Source: ABS

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