Markets

Australian March canola exports triple as markets expand

Liz Wells, May 24, 2021

Canola is delivered to GrainCorp’s Cunningar site, its closest to Port Kembla, which has played a major part in Australia’s 2020-21 export program. Photo: GrainCorp

AUSTRALIA exported 759,610 tonnes of canola in March, more than triple the 247,207t shipped in February, according to the latest export data from the Australian Bureau of Statistics (ABS).

Belgium on 191,570t was once again the biggest market for March-shipped canola, followed by The Netherlands on 130,003t and the United Kingdom on 66,000t.

The shortage of oilseeds to crush in the Black Sea region become evident in March, with Romania and Ukraine both taking a panamax cargo for what is believed to be the first time.

In its May supply-and-demand report on canola, Lachstock Consulting said Australia was “starting to mix it up in the export destinations”, and noted 200,000t of business having been done to the United Arab Emirates, and Ukraine and Romania combined having received 120,000t to date.

“The rarity of Ukraine imports shows the dysfunction of the market this year, while the the UAE number is also impressive on top of the 1 million tonnes already done ex-Canada, creating a record import number for the UAE,” Lachstock said.

It added that EU old-crop crush rates saw March print a record for the season, and the highest March figure on record.

“Cumulative pace is ahead of the previous two years.”

Australia’s canola shipments in April are expected to come in at around 425,000t and tail off in subsequent months as stocks run down and exporters concentrate on pushing wheat out ahead of the Northern Hemisphere new crop.

CANOLA Jan Feb Mar Tonnes
Bangladesh 3329 3706 13228 20262
Belgium 189452 63030 191570 444052
Canada 0 3 44 47
Denmark 30000 0 0 30000
France 132000 61600 63504 257104
Germany 42337 61843 65225 169405
Japan 912 18749 1115 20776
Malaysia 3024 6889 6813 16726
Nepal 9117 5930 14904 29950
Netherlands 62693 0 130003 192696
Poland 0 0 25514 25514
Portugal 20329 0 0 20329
Romania 0 0 61008 61008
South Africa 0 39 430 470
South Korea 0 202 751 953
Taiwan 0 20 0 20
Ukraine 0 0 64501 64501
UAE 0 0 55000 55000
UK 62014 25196 66000 153210
TOTAL 555206 247207 759610 1562023

Table 1: Australian canola exports for January, February and March 2021. Source: ABS

 

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