Canola crop in Canada expected to increase only slightly in 2023
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This year’s canola crop in Canada is expected to be slightly larger than last year. The main reason for this is the expansion of the cultivated area
Thu 2 March 2023 06:40
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Statistics Canada maintains the previous estimate of Canada’s canola balance sheet. The area of the 2023 harvest, at 8.7 million hectares, is expected to exceed the previous year’s result by 1.3%. Based on average yields of 21.2 t/ha, approximately 18.5 million t could be extracted from the fields, nearly 2% more than in 2022. In addition to initial stocks of 900,000 t, l he Canadian canola supply is expected to be around 19.4 million t reach.
For the current marketing campaign, it is estimated at 19.1 million t. The increase in supply increases the country’s export potential which, at 8.8 million t, is estimated to be around 200,000 t more than in 2022/23. In addition to the likely larger Canadian supply, the advantage is also based on the assumption of continued strong global demand for oilseeds and their by-products.
Significantly higher salary than the previous year
According to the latest Statistics Canada data, Canadian canola processing as of January 23 was 875,315 tonnes. This is 34% more than the previous season or a good 8% more than the average of the last 3 years. The processing of the current marketing campaign, from August 22 to January 23, amounts to almost 5 million tons. AM I
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