Markets

Australia’s Jan canola exports down 25pc from Dec

Liz Wells, March 13, 2024

A canola crop growing last spring at Wagabawering Spring in WA. Photo: Nutrien Harcourts Narrogin

AUSTRALIA exported 424,574 tonnes of canola in January, according to the latest data from the Australian Bureau of Statistics.

This is down 25 percent from 563,126t exported in December, and 40pc from the 713,188t shipped in January 2023 due mainly to Western Australia having a much smaller 2023-24 crop because of its drier growing season.

Germany on 99,340t was the biggest-volume market for January 2024 shipments, followed by Pakistan on 65,785t and Belgium on 58,478t.

According to Lachstock Consulting’s March 5 shipping analysis, Australia is on track to see a month-on-month increase for canola exports with 561,000t on the stem.

In its canola supply-and-demand report out March 1, and ahead of the opening of the planting window for the Australian crop, Lachstock is tipping a year-on-year drop in canola area as values continue to be pressured lower.

Areas planted will depend on rain in the next six to eight weeks.

“It could be WA that sees the biggest shift out of canola this season,” the Lachstock report said.

“Strong export demand for lentils and lupins is pushing pulse values higher and with rotational constraints after three massive plants in WA, (we) will likely see some canola area shift into pulses, and more area planted to wheat and barley.

“Good moisture profiles on the east coast are likely to provide some confidence in canola as we head towards the planting window, but current values may see further adjustments to planting decisions.
“While the majority of growers will stick to their planned rotations, we will likely see a reduction in canola planting in more marginal areas due to the relative values of both cereal and pulse crops.”
CANOLA Nov Dec Jan Tonnes
Bangladesh 858 6510 6353 13721
Belgium 0 0 58478 58478
Brazil 0 1 0 1
France 118195 98123 0 216318
Germany 129938 125134 99340 354412
Greece 0 31743 0 31743
Japan 63715 97696 61013 222424
Kuwait 0 0 21 21
Malaysia 1439 3778 4367 9584
Mexico 47250 80002 0 127252
Nepal 503 2637 4480 7620
Netherlands 0 0 65785 65785
New Zealand 0 1463 0 1463
Pakistan 60483 80288 79006 219777
Philippines 0 0 10 10
South Africa 0 44 30 74
South Korea 407 206 0 613
UAE 119530 35499 45691 200720
TOTAL 542317 563126 424574 1530017

 

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