Australia’s Aug canola exports drop 55pc on month

Australia exported 152,452 tonnes of canola in August, down 55 per cent from the 335,929t shipped in July, according to the latest data from the Australian Bureau of Statistics (ABS).

Japan on 82,963t was the biggest market by far for August-shipped canola, followed by 51,020 and the United Arab Emirates on 10,841t.

The August 2022 figure is little different from August 2021, when 151,763t of canola was shipped, and Japan was the biggest market on 85,824t.

Canada is expected to start shipping its new-crop in volume from this month, which is expected to.

The Australian canola harvest is under way at the usual time in Western Australia, but other states will be harvesting at least two weeks beyond their normal date as La Niña delays ripening, windrowing and harvest.

Waterlogging and flooding on the plains of New South Wales, and in northern and central Victoria, is impacting yield in many crops, and some will not recover from this latest drenching.

However, crops in the Victorian Wimmera and Mallee, across South Australia and WA and on the slopes of NSW are looking at bumper to record yields.

According to Lachstock Consulting, Australia’s 2022-23 canola crop is now seen at 6.1 million tonnes (Mt).

This compares with the ABARES estimate released on early September of 6.6Mt, which is seen as having more downside than upside in light of current flooding.

Tags: Market, Japan, shipped, Australia, harvest, export, canola, Canada, United Arab Emirates