Australia exports 424,369t canola in July

Australia exported 424,369 tonnes of canola in July, according to the latest export data from the Australian Bureau of Statistics.

This figure is up 31 percent from the 323,384t shipped in June, and up 26pc from the 335,929t.

Japan on 153,289t was the largest market for July-shipped canola, followed by Pakistan on 89,330t and Belgium on 59,046t.

In its latest estimate released Sep 5, ABARES forecasts Australia’s 2022-23 canola crop at 5.15 million tonnes (Mt), well below the record crops of 6.82Mt in 2021-22 and 8.27Mt in 2022-23.

IKON Commodities has forecast new-crop canola at 5.7Mt, while Lachstock Consulting is sitting on 5.3Mt.

However, all these estimates were released prior to a frost event in early September which is expected to have clipped some yield potential from crops in parts of New South Wales, Victoria and South Australia.

Tags: Belgium, crop, forecast, ABARES, Japan, Australia, export, canola, Pakistan