Canadian Canola Stockpiles to Plunge as Use Surges to a Record
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Canada’s canola stockpiles in the second half of 2011 will be reduced as exports and processing in the marketing year through July will reach a record, according to Hamburg-based researcher Oil World.
Stockpiles will fall 40 percent to 1.1 million metric tons, Oil World said today in a report. The amount of the oilseed processed will rise 5.7 percent this year and shipments will total 7.7 million tons, up 6.9 percent, the researcher said. China has increased imports of canola as domestic output falls and processing facilities open in the Asian country, according to the report.