China is expected to import a record 5 million tonnes of canola in 2014, a rise of 64 per cent from last year, due to profitable crush margins and lower domestic production, said an official think-tank on Tuesday. China mainly imports canola from Canada. Canada had a record domestic harvest in 2013, but output this year is expected to fall 21.6 per cent…Full Article: Canadian Cattlemen Nov 2014
- Subsidized domestic prices of Chinese canola have been above CNY 5,100 (~US$828.75) per MT, which is 40% higher than foreign imports (including shipping and taxes).
- In May 2013, a press article noted that Chinese canola importers were looking to increase imports owing to lower foreign prices vis-à-vis domestically subsidized canola.
- In April 2013, Canada, the world’s largest canola producer, was granted increased access to crushing plants in China. As a result, Canada could export canola to 11 Chinese crushing facilities (capacity of 5.5 million metric tons).
- China’s canola (rapeseed) production primarily takes places in the center of the country. In 2011, Hubei produced 2.2 million MTs of canola, while Sichuan produced 2.1 million MTs and Hunan produced 1.8 million MTs (total country output was 13.4 million MTs).