# Canada’s Canola Oil Shortage | The Griffins’ Nest

> Canola oil prices have risen sharply after a 2021 heatwave and drought in Western Canada cut yields, with prices up about 41% from the early August heatwave. Canola crush through the first three months of 2021/22 was down 9% year on year, and China is buying only limited Canadian volumes.

- Date: 2021-12-18 · published 2021-12-18T12:00:00.000Z
- Category: weather · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/43562-canada-s-canola-oil-shortage-the-griffins-nest
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Reduced Canadian supply and weaker crush push canola oil prices higher, which encourages buyers to switch to substitute vegetable oils. This supports soybean oil demand and prices.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-10-04 | [Canada’s smallest canola harvest in 13 years forces importers to turn elsewhere - The Globe and Mail](https://feedsoft.ai/events/44557-canada-s-smallest-canola-harvest-in-13-years-forces-importers-to-turn-elsewhere.md) | +2.4% | +6.5% |
| SBO | 2021-10-04 | [Canada's drought forces canola importers to turn elsewhere - Grainews](https://feedsoft.ai/events/44559-canada-s-drought-forces-canola-importers-to-turn-elsewhere-grainews.md) | +2.4% | +6.5% |
| SBO | 2023-01-06 | [Canola Market Starts the New Year Strong \| Northern Canola Growers Association](https://feedsoft.ai/events/37880-canola-market-starts-the-new-year-strong-northern-canola-growers-association.md) | +1.5% | -4.4% |
| SBO | 2020-09-30 | [Europe poor canola harvest won't compensate gains by Australia and Canada](https://feedsoft.ai/events/51211-europe-poor-canola-harvest-won-t-compensate-gains-by-australia-and-canada.md) | +1.3% | +3.8% |
| SBO | 2021-08-18 | [First insight into Canadian canola crop damage: Grain market daily \| AHDB](https://feedsoft.ai/events/45665-first-insight-into-canadian-canola-crop-damage-grain-market-daily-ahdb.md) | -5.7% | -10.0% |

## Sources

- ehnewspaper.ca: https://www.ehnewspaper.ca/articles/canola-oil-shortage-canada

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.