Based on the forecasts of world market analysts, in the 2019-2020 season it is expected that the countries that are part of the European Union will purchase an unprecedented amount of such varieties of rapeseed as canola.
The fact is that in the current season, canola shows an extremely low yield in the indicated territory. And a rapeseed product supplier such as Australia has significantly reduced its sales rate this year.
It should be noted that a season earlier, EU countries imported over five hundred twenty-seven thousand tons of canola from Canada. Representatives of the Canadian Grain Company shared this information with the general public.
They also said that this season the volume of purchases of similar goods can reach at least one million three hundred thousand tons, and at most two million tons.
It is important to add that Ukraine is also considered a major exporter of canola. This season, this country has significantly increased the volume of external shipments and sent to the world market a record amount of products - two million one hundred fifty thousand tons.
Considering that the supply of canola to the market of the People’s Republic of China (the main importer of Canadian canola in previous years) has decreased significantly this season, Canada intends to make up for monetary losses by increasing exports to the EU market.