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(Alice McFarlane/farmnewsNOW Staff)
Canadian canola

Canola trader puts positive spin on China dispute

Apr 4, 2019 | 4:34 PM

A canola trader is optimistic the disruption of Canada’s canola trade with China will be settled favourably.

Louis Dreyfus Company (LDC) Trading Manager Tracy Lussier told roughly 250 farmers and industry representatives in Yorkton that he expects market opportunities will emerge.

“The government and the industry has a lot of resources working towards the end of resolving the issue and I ultimately believe that there is a lot of demand in China,” Lussier said. “It may take a little bit of time but in the long run I think China is going to be a strong, stable market for us.”

Despite the uncertainty, Lussier said farmers are likely to stick with their canola rotations.

“We’re thinking canola acres will be very similar to last year to maybe down just slightly, maybe one per cent,” Lussier said. “The canola acres [are] closer to 23 million with production of 21 million tonnes.”

Lussier said demand is likely to continue to support canola markets.

“There could be a little bit of a down side in that number but even given the prices right now versus other products, canola is still holding relatively well even though, obviously, it’s not where we would like to see it.” Lussier said.

alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF

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