![]() ![]() With the market soaring, canola importers locked in their purchase prices under terms of their sales agreements last week, fearing even higher prices, said Tony Tryhuk, manager of commodity trading at RBC. Other exporters can still ship Canadian canola, helping meet China’s voracious demand for animal feed as its hog herd recovers from a deadly disease. Top buyer China more than doubled purchases to 1.2 million tonnes as of December, despite continuing restrictions against Canadian exporters Richardson International and Viterra. Those early deliveries to commercial handlers have helped Canada export nearly 33% more canola year-to-date over last year, according to government data. Strong export demand for canola seed and oil then drove a late-summer rally that prompted farmers to sell more crop earlier than usual. The roots of Canada’s canola shortage trace back to the autumn, when farmers reaped their smallest harvest in five years. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |