AUSTRALIA exported 165,589 tonnes of canola in May, up 19 per cent from 139,147t shipped in April, according to the latest data from the Australian Bureau of Statistics (ABS).
China and Germany combined bought 151,636t, or 92pc, of total May shipments, with Japan and Malaysia the third and fourth-biggest customers.
Australia’s total May 2020 canola shipments are more than four times greater than the 35,757t shipped in May last year, and reflect Australia’s bigger export surplus, and also confidence in new-crop production.
It means canola crushers in New South Wales, including Cargill at its Newcastle plant, will have ample supply from the state’s crop for the first time in two years.
This has allowed exporters from Western Australia to book cargoes to Europe before its new-crop arrives without fear of shorting a premium-paying domestic market.
This time last year, severe drought in the northern half of NSW destroyed hopes of an early crop to supply crushers in November-December, and much of the southern NSW and northern Victorian crop was also below average due to dry conditions.
This meant WA and some South Australian tonnage which would normally be exported in the first half of the calendar year was held over for domestic crushers.