Australia exports 523,905t canola in March

Australia exported 523,905 tonnes of canola in March, according to the latest data from the Australian Bureau of Statistics.

The figure is down 31 percent from 762,209t shipped in February, and is 12pc below the 597,555t shipped in March 2023.

The March total has brought total shipments for the first half of Australia’s marketing year to 3.2 million tonnes (Mt), down from 3.4Mt shipped in the previous corresponding period.

Germany on 126,731t was the top destination for March-shipped canola, followed by Japan on 103,546t and the United Arab Emirates on 65,526t.

In its monthly canola supply-and-demand report released yesterday, Lachstock Consulting said shipping stems indicate a further 1.7Mt is to be shipped in the current quarter.

Lachstock said this would put 2023-24 Oct-Jun exports at 4.92Mt, around 2pc behind this time last year, and at around 87pc of total forecast exports.

“The fast early place means that the balance sheet is getting very tight in South Australia, Victoria and New South Wales, and the bulk of our export program will be done by June,” the report said.

“We have had to make some historical revisions to the SA balance sheet to allow for the record volume expected to be shipped by June.

“WA, on the other hand, will still have above-average carry-out based on current export pace.”

Table 1: Australian feed barley exports from October 2023 to March 2024. Source: ABS

Tags: Australia, export, canola, shipments, Germany, United Arab Emirates, Japan