Canola prices in Australia soar to $815 per tonne, driven by European demand and production forecasts.

Canola prices in Australia have risen to $815 per tonne, up from $680 per tonne in August. This increase is due to multiple factors, including strong demand from Europe, declining Australian production forecasts, and higher international oilseed prices. Australian growers are selling more canola to improve cash flow, while storing other crops. This price hike makes Australian canola competitive in European markets, bolstering exports.

November 16, 2024
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