Canola drives up Saskatchewan’s exports to Mexico

Saskatchewan’s annual exports to Mexico have exceeded $1 billion for the first time.

Trade surpassed $1.02 billion in 2022, thanks to increased sales of canola oil, canola seed and non-durum wheat, the province said in Feb. 23 news release.

Canola seed made up nearly 55 percent of total exports to Mexico last year, with a total value of more than $557 million, the province said.

The provincial government opened an international office in Mexico City in 2022.

The new office played a key role in expanding Saskatchewan’s exports to Mexico, the province added.

Having a local team in the country to work with Saskatchewan exporters has proven invaluable, it said.

“We’re sharing Saskatchewan’s story around the world, and the world is listening,” said Jeremy Harrison, the province’s minister of trade and export development.

“Advancing Saskatchewan’s trade interests while strengthening existing partnerships benefits all of Saskatchewan. As an export-dependent province, this work is integral to grow our economy, create jobs and drive growth that works for everyone.”

Saskatchewan’s exports to Mexico consist primarily of agricultural products.

In 2022, agricultural commodities and agri-food exports accounted for more than 97 percent of total exports.

Increased sales of canola oil helped the province surpass the $1 billion mark in 2022.

On a year-over-year basis, canola oil exports increased 79 percent in 2022.

The total value of canola oil was exported to Mexico was around $206 million, or 20.2 percent of the province’s total annual trade with Mexico.

Growth in canola oil exports is expected to increase due to anticipated private-sector investments in canola crushing plants, the province said.

In Saskatchewan alone, an estimated $13.6 billion will be invested in additional crush capacity over the next few years.

Canola oil was Saskatchewan’s top value-added agri-food export to all countries in 2022, with total exports valued at $3.5 billion.

“Our province continues to have what the world needs — a consistent and reliable supply of sustainable agri-food products,” said provincial agriculture minister David Marit.

“These strong numbers show that trade and investment offices have expanded our international networks and helped increase the value of our exports.”

Tags: exports, Mexico, canola oil, Saskatchewan, canola seed, non-durum wheat