Oilseed Crop for McDonald’s Fries Rising Most Since 2008
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Canadian canola farmers, the world’s biggest growers, are poised to increase output to a record, adding to reserves of the oil used by McDonald’s Corp. to cook 4,000 metric tons of fries globally every day.
Production in the year starting Aug. 1 will surge 16 percent, the most since 2008, to an all-time high of 15.5 million tons as fields recover from drought and infestations of bugs, the government estimates. Futures will tumble 24 percent to C$480 ($466) a ton in Winnipeg by the end of the harvest in November, commodity broker Futures International LLC forecasts.