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The Canadian government is weighing a free trade agreement with China, and the canola industry sees large export potential there. Canadian canola seed faces a 9% Chinese tariff versus 3% on soybeans, which the Canola Council says cost about $32 per tonne in 2016.
A council-commissioned study estimates removing the tariff could lift canola exports by up to $1.2 billion per year.
Removing the tariff gap would make Canadian canola more competitive in China, supporting demand for canola meal and oil and potentially firming canola prices. The outcome remains uncertain and depends on negotiations.
realagriculture.comRealAgriculture News TeamApr 7, 2017Not 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.
