Markets

China biggest Sept buyer of Australian canola: ABS

Liz Wells, December 4, 2019

Windrowing canola in the Riverina district of southern NSW. Photo: Warwick Holding

CHINA bought 49,350 tonnes, or 78 per cent, of Australia’s September canola shipments, according to the latest export data from the Australian Bureau of Statistics.

September saw a total of 63,650t of canola shipped to all destinations, down 11pc from the August figure of 71,698t, as domestic stocks run down ahead of the new-crop harvest.

Traders have already booked some cargoes of new-crop canola, with a vessel this week loading at CBH Group’s Albany Terminal to kick off exports to Europe for the season.

Domestic crushers continue to bid up for any canola of more than 40-per-cent oil in New South Wales and northern Victoria, where yields have largely been well below average, and oil content has also suffered as a result of the dry spring.

iGrain senior account manager Machallie McCormack said volume of tradable seed was limited because large tracts of the Riverina crop in southern NSW was cut for hay, and much of the harvested seed has already sold.

“We’re seeing a lot of low oil, and I’d say the average is below 40pc,” Ms McCormack said.

“The tonnage has been really ordinary, and the price in the mid $500s per tonne is pretty good historically, so growers have sold quite a lot.”

In Victoria’s Wimmera and south-west, and in South Australia’s south-east, canola crops have enjoyed good to excellent growing conditions, and their tonnage is attracting interest from crushers and traders looking to accumulate for export and domestic sales.

CANOLA Jly Aug Sep Tonnes
China 0 33224 49350 82574
Japan 27069 26084 6450 59603
Kenya 0 0 1 1
Malaysia 5145 4556 1941 11642
Nepal 6039 7035 5604 18679
New Zealand 500 798 303 1602
UAE 3 0 0 3
TOTAL 38757 71698 63650 174105

Table 1: ABS canola export data for July, August and September 2019.

 

HAVE YOUR SAY

Your email address will not be published.

Your comment will not appear until it has been moderated.
Contributions that contravene our Comments Policy will not be published.

Comments

Get Grain Central's news headlines emailed to you -
FREE!