Markets

Australia sets new canola-shipment record

Liz Wells February 20, 2023

A canola bunker fills in late November in NSW’s Port Kembla zone. Photo: Stefan Meyer, StoneX

AUSTRALIA exported 883,885 tonnes of canola in December to set a new new monthly record by surpassing the 854,950t shipped in March 2022, according to data from the Australian Bureau of Statistics.

The December figure is up 16 percent from the 761,772t shipped in November, with Belgium on 241,577t the biggest market, followed by Germany on 183,671t and The Netherlands on 129,449t.

In its canola supply-and-demand report released January 27, Lachstock Consulting said 753,000t was on the stem for January.

“This represents an impressive start to the 2022-23 marketing year, with the export pace to date 56pc than the same time last year,” the report said.

Lachstock’s reports echo the sentiments coming through from growers, agronomists and organisations that the upcoming winter crop is expected to see a drop in area.

“Our early forecast for 2023-24 is for lower planted area compared to 2022-23.

“We are assuming that the area planted to canola will be down 5-15pc across the board with lower prices, high input costs and the increased chance that we are heading into a drier year all contributing factors.”

CANOLA Oct Nov Dec Tonnes
Bangladesh 797 896 1090 2783
Belgium 64323 125608 241577 431507
France 0 185570 123393 308962
Germany 0 192694 183671 376364
Japan 27831 497 1399 29726
Malaysia 5544 5662 9535 20741
Nepal 4753 1184 10590 16527
Netherlands 0 124359 129449 253808
New Zealand 208 813 425 1446
Pakistan 0 0 116691 116691
Paraguay 0 0 1 1
South Africa 0 11 0 11
South Korea 403 204 203 810
Taiwan 313 0 0 313
United Arab Emirates 49500 124276 65862 239638
TOTAL 153672 761772 883885 1799330

Table 1: Australian canola exports for October, November and December 2022. Source: ABS

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