According to the latest data from Statistics Canada, the Canadian canola crop in 2022 is expected to be 18.2 million tonnes. This would be 4.4 million t more than the historically low previous year, but 1.3 million t less than in 2020. The expected higher yields are decisive for the most of the harvest. While in 2021 only 15.4 t/ha was taken from the fields due to the drought, around 21.1 t/ha should have been harvested in the current marketing year. The oil contents obtained are more than satisfactory with an average of 42.8%.
Given the larger supply, the volume of exports should increase by 63% compared to the previous year to 8.6 million t. The main buyers of Canadian canola are primarily China and Mexico. However, this estimate is probably 2 million t behind the result of the 2020/21 campaign.
More acreage for the 2023 canola harvest
For the 2023 crop, canola acreage in Canada is expected to increase by 1.3% to 8.7 million hectares, according to Statistics Canada in its latest forecast. In a context of average yields of 21 dt/ha, the harvest of 18.5 million t should exceed the result of the previous year by almost 2%. Based on the estimate for the 2022/23 financial year, stocks could increase accordingly. However, Canadian exports are expected to increase by 0.2 to 8.8 million tonnes given sustained global demand. AM I
Subtly charming explorer. Unable to type with boxing gloves on. Thinker. Twitter practitioner. Internet fanatic. Devoted music junkie.