Markets

Australia exports 676,739t canola in May

Liz Wells July 11, 2024

Some of Australia’s early planted canola crops, like this one in WA’s Great Southern region, are starting to flower. Photo: Paul Carmody

AUSTRALIA exported 676,739 tonnes of canola in May, up 4 percent from the 647,700t shipped in April, according to the latest data from the Australian Bureau of Statistics.

This compares with 503,754t shipped in May 2023 as part of the record 2022-23 program ending September 30 which saw Australia export 6 million tonnes, front-ended into the first half of the year.

In May 2024, Pakistan on 181,293t has made a surprise appearance as the biggest market for Australia’s shipments for the month, followed by Japan on 132,795t and Belgium on 122,478t.

Improved crop conditions in Canada will increase the competition Australia’s new-crop canola faces, while conditions are mixed for crops in Europe.

“Conditions in Ukraine are a watch point, as their spring has been dry with a number of frost events, but production will still be above the historical average,” Lachstock Consulting said in its June canola report.

“The balance sheet will start to be squeezed, but it will not be for a while yet, and we will likely see some downside once the EU-Ukraine harvest kicks off over the next month.”

CANOLA Mar Apr May Tonnes
Argentina 0 1 0 1
Bangladesh 51642 2080 3544 57266
Belgium 59080 245234 122478 426791
Brazil 3 0 0 3
Canada 134 8 6 148
Chile 0 0 128 128
France 63982 59850 55000 178832
Germany 126731 119734 66066 312531
Japan 103526 114575 132795 350895
Kenya 0 100 0 100
Malaysia 1004 1489 5479 7971
Mexico 32854 88350 0 121204
Nepal 15498 15350 16927 47774
New Zealand 418 420 0 838
Pakistan 0 0 181293 181293
South Africa 35 510 80 624
UAE 65526 0 92945 158471
TOTAL 520433 647700 676739 1844871

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