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Canola exports dive ahead of new-crop shipments: ABS

by Liz Wells, 14 December 2018

AUSTRALIA exported 39,217t of canola in September, 59 per cent below the 95,358t shipped in August, according to the latest export data from the Australian Bureau of Statistics (ABS).

This has signalled the runout of old-crop stocks, and shipment of new-crop canola is already under way, with demand from Cargill’s crushing plant at Newcastle, as well from European crushers, helping to support prices.

This week, the Poavosa Wisdom has brought a 25,000-tonne cargo of canola from Kwinana in Western Australia to Newcastle.

Others are likely to follow in coming months to supplement the small and lower-oil supplies available in New South Wales, where drought has hit quality and quantity hard.

Eastern Australia has three large-scale canola crushers, Cargill in Newcastle, GrainCorp in Numurkah, and Riverina Oils & Bio Energy in Wagga Wagga.

Along with some smaller operations, including MSM Milling near Orange, they generate an eastern states’ demand of around 950,000t.

The Australian Oilseeds Federation’s most recent forecast came out in October, and put the crop now being harvested at 1.96 million tonnes (Mt), 42pc smaller than the previous crop of 3.64Mt.

WA is forecast to produce 1.42Mt, or 72pc, of the national total, and its mild growing season has enabled its canola to register higher oils than most crops harvested in eastern states.

Its new-crop shipping program to Europe is already under way, with the Matterhorn due into Albany this week to take 60,000t of canola to The Netherlands.

Jly Aug Sep Tonnes
Bangladesh 2439 370 0 2809
Belgium 42 42 0 84
China 3360 3361 3361 10083
Japan 27952 83254 25709 136915
Korea 800 1601 0 2401
Malaysia 3498 3132 5362 11992
Myanmar 0 216 287 503
Nepal 6781 2846 2988 12616
New Zealand 510 515 1509 2534
Taiwan 0 21 0 21
Vietnam 1026 0 0 1026
TOTAL 46409 95358 39217 180985

Table 1: ABS Australian canola exports for July, August and September 2018.

 

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