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The Canadian Canola Growers Association said the USMCA and CPTPP trade agreements secured duty-free access for canola seed, oil and meal. CPTPP is set to take effect for Canada on December 30, bringing tariff reductions that will erase Australia's advantage in Japan.
About 90 per cent of Canadian canola is exported, and the two deals cover 60 per cent of 2017 exports.
Preserved duty-free access and tariff cuts in key Asian markets support demand for Canadian canola meal and oil. The effect on prices is medium, mainly through export competitiveness.
ccga.caNov 14, 2018Not 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.
