2022/23 canola supply in Canada significantly higher than previous year

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

Polly Fennimore

Subtly charming explorer. Unable to type with boxing gloves on. Thinker. Twitter practitioner. Internet fanatic. Devoted music junkie.

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