It’s laborious to see a lot on Determine 1, nevertheless it was a great way to make use of the brand new charting operate on Excel, which might flip a desk right into a map. Mainly, gentle blue means the nation takes some Australian canola, and the darker the blue, the extra Australian canola it imports. For June to Might 2024-25, Belgium was our largest market, nicely forward of Germany in second.
Determine 2 exhibits the export information extra clearly. Maps look good on media posts, however the old school stacked bar chart is simpler to decipher. The European Union is our largest canola market, however in contrast to China, the EU prefers standard canola.
The Australian Bureau of Statistics (ABS) information doesn’t differentiate between GM and standard canola, so we have to go to Canadian information to work out who takes GM. Japan is Canada’s second largest marketplace for canola seed, with the UAE, Mexico being different main markets for GM.
The demand for canola from China dwarfs different international locations. In 2024, China imported 5.86mmt of Canola from Canada. The following largest market was Japan with simply over 1mmt. Australia has produced simply over 6mmt of canola within the final two crops, with most of that being standard canola.
The final time Australia had entry to the Chinese language canola market, in 2019-20, they took 0.54mmt. That was a drought 12 months, with solely 2.3mmt of canola harvested, and costs very robust, relative to worldwide benchmarks.
Since 2019-20, the low cost for GM canola to traditional has fluctuated, largely with the unfold between Canadian and European costs. During the last harvest, the GM low cost reached its highest stage, at occasions greater than a $100/t low cost to traditional.
Canola plantings this 12 months are more likely to mirror final 12 months’s massive low cost, with extra standard and fewer GM canola within the floor.
