IN A YEAR where depressed cereal prices have dominated the conversation in the Australian grains industry, canola has emerged as a shining light on the price front with prices lifting more than 10 per cent this month to $535 a tonne.
In further good news, one private forecaster has pegged the Australian canola crop at potentially more than 3.5 million tonnes, which will be one of the largest crops of all time.
Jon Slee, Australian Oilseeds Federation (AOF) president said prices were around $535/t at port exclusive of costs.
“The canola sector has slightly different price signals than other grain complexes and that oil component in terms of pricing has been a big help this year,” he said.
Canola crops are podding up nicely in key production areas in Australia,
Demand for edible oil was providing market strength.
