Canadian canola exporters are trying to sell their supply to other markets after Chinese companies stopped buying last week.
Brian Innes, with the Canola Council of Canada, says China was a big chunk of the market and it’s hard to fill a hole that size.
“That would be a train that would go all the way from Calgary to Vancouver filled with canola seed. So that’s a lot of canola seed to send somewhere else.”
The immediate problem for canola farmers is the drop in price for the commodity.
“That directly hits producers who have canola to sell," said Innes. "But of course, producers are also looking to go into their fields in just a few short weeks and plant the 2019 crop. so it’s creating a lot of uncertainty with the whole industry for a market that is really significant for the Canadian industry.”
The council says canola exporters are now looking at other markets, including Japan, Mexico, the United States, the United Arab Emirates, Pakistan, Bangladesh and Europe.
