Markets

Australia exports 544,045t canola in Nov

Liz Wells, January 15, 2024

A crop of canola growing last year at Borden in WA. Photo: LAWD

AUSTRALIA exported 544,045 tonnes of canola in November, up 43 percent from the October total of 381,506t, according to the latest data from the Australian Bureau of Statistics.

Germany on 129,938t was the major destination for November exports, followed by the United Arab Emirates on 119,530t and France on 118,195t.

The November 2023 figure is well below the 761,772t shipped in November 2022, as part of Australia’s canola-export record set in the year to 30 September 23 of 6 million tonnes (Mt).

According to Lachstock Consulting’s most recent supply-and-demand report for canola released December 21, December exports were forecast at 598,000t.

Lachstock said this would put export pace for the first quarter of the marketing year at 20pc below the 2022-23 figure to reflect the smaller crop.

Lachstock estimates Australia’s current crop at 5.8Mt, while ABARES is sitting on 5.5Mt, both well down on record 2022-23 production seen by ABARES and others at more than 8Mt.

“Area planted to canola in 2024-25 is expected to be lower at this early stage, reflecting lower prices making them less competitive from a gross margin perspective and rotational constraints after three big years of planting,” Lachstock said.

“Area will ultimately be determined by the autumn break, with the longer term rainfall outlook (Feb-Apr) currently neutral to slightly drier.”

 

CANOLA Sep Oct Nov TONNES
Bangladesh 13109 35010 858 48977
France 0 98348 118195 216543
Germany 0 0 129938 129938
Greece 0 20000 0 20000
Hungary 42 0 0 42
Japan 124208 82800 63893 270900
Malaysia 8480 4360 1445 14285
Mexico 31744 81431 47250 160425
Nepal 1181 0 530 1711
New Zealand 412 823 1392 2627
Pakistan 59498 42000 60483 161981
South Korea 409 201 407 1016
UAE 127275 16533 119530 263338
Vietnam 0 0 125 125
TOTAL 366357 381506 544045 1291908

 

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