Canada Working to Ship Stockpiled Canola Blocked by China to the EU
Conditions in Canada and the EU may align to benefit both sides. Canada currently has its greatest stockpile of canola ever seen on farms for this point in the year after tensions between Canada and China resulted in China halting purchases of canola from Viterra and Richardson International.
However, the Canola Council of Canada is looking to increase shipments to the EU as drought and insect pressures have resulted in the EU’s smallest canola crop in 13 years. Historically, the EU has the capacity to crush up to 25 million tons of canola per year, but this year saw a harvest of only 17 million tons in total.
All canola shipped into the EU must be certified as sustainable, and be from land that has been farmed or used as pasture since 2008 in order to meet import standards. Brian Ines, the president of public affairs for the Canola Council, is encouraging Canada’s farmers to begin the certification process to be prepared to meet growing demand from the EU.