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A study commissioned by the Canola Council of Canada estimates China's ban on Canadian canola cost growers between $681 million and $1.3 billion from March 2019 to July 2020. China's imports of Canadian canola seed fell to 1.93 million tonnes in 2019-20, about half the five-year average.
The council is asking Ottawa to create an Asian Diversification Office.
The ban has shifted canola seed flows away from China, which reduces Canadian export demand despite high global canola prices. Diversifying buyers would be needed to restore that lost demand.
manitobacooperator.caAllan DawsonMar 18, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
