Australia continues to increase canola exports

In November, the largest buyers of Australian canola were: Germany – 310.1 thousand tons, Belgium – 192.9 thousand tons and the Netherlands – 65.7 thousand tons.

According to the Australian Bureau of Statistics, in November the country increased canola exports by 180 thousand tons compared to October to 769.5 thousand tons, which significantly exceeds the figure for November 2023 (542.3 thousand tons).

According to the latest Lachstock Consulting Australian Export Vessel Line-ups reports, Australia exported 537,000 tonnes of canola in December and will increase deliveries to 648,000 tonnes in January. The report notes that another 1.2 million tonnes of canola are planned to be exported in February.

The increase in exports is due to low soybean stocks in the US, drought conditions in Argentina and increased biofuel requirements in the EU and Indonesia.