Canadian rapeseed oil exports rise.BTMA
Canadian rapeseed oil exports rise
According to a report released by the German Union for the Promotion of Vegetable Oils and Proteins (UFOP) based on data from the Canadian Rapeseed Council, Canada exports much more rapeseed oil this year than in previous years, with the largest export volume to the United States and China, and Europe has regained its status as a Canadian vegetable. Seed oil buyers.
The report stated that in 2020, the country’s rapeseed oil exports were slightly less than 3.4 million tons, an increase of 7% over the previous year.
UFOP believes that strong demand from Chinese importers is the main reason for China’s import growth. Compared with 2019, China’s imports surged by 26% to 1.1 million tons. However, China’s demand is lower than 2018 levels.
The report shows that the United States’ purchases have decreased from the previous year, but it is still the largest importer, with an import volume of 1.7 million tons. Other important buyers include Chile, Mexico and South Korea.
The European Union (EU) imports 48,200 tons, ranking sixth. UFOP said that the EU had not imported any canola oil from Canada in the previous two years.
According to Agramarkt Informations Gesellschaft, the lower rapeseed harvest in the EU-27 has increased interest in buying raw materials and by-products from non-EU countries, and attractive world market prices may prompt Canadian canola oil suppliers to export this product.
The report said that major rapeseed suppliers such as Ukraine and other Eastern European countries have also been affected by extreme weather in recent years, leading to increased supply risks.
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