Canola exports top 10 million tonnes in 2019-20

MarketsFarm — Total Canadian canola exports during the 2019-20 crop year were up nine per cent on the year, and slightly above the five-year average, according to the latest weekly data from the Canadian Grain Commission (CGC).

With 229,800 tonnes exported during the final week of the 2019-20 marketing year, the preliminary total canola exports for the year came in at 10.12 million tonnes. That compares with the 9.28 million exported the previous year and the five-year average of 9.9 million.

Monthly data including destination information will be out later in August, but Europe and the United Arab Emirates were major buyers as of the June report, more than making up for declines in shipments to China.

Canadian wheat exports in 2019-20 were solid at 18.06 million tonnes, down only slightly from the 18.24 million tonnes exported the previous year. Of that total, durum exports of 5.27 million tonnes were well above the 4.52 million tonnes exported in 2018-19.

Meanwhile, soybean and corn exports were both down considerably on the year, according to the CGC data. Soybean exports of 2.68 million were down by 1.3 million tonnes on the year. Total corn exports of only 456,300 tonnes were down by 73 per cent.