Canola Sinks Amid ‘Challenges’ Faced by Canadian Sellers to China
- Richardson had registration to ship canola to China revoked
- Still, no clear evidence disruptions tied to Huawei frictions
Photographer: Carla Gottgens/Bloomberg
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Canola futures slumped to the lowest in more than two years as concern grows that China is restricting purchases from top exporter Canada.
Export data shows China bought 33 percent less Canadian canola in January than a year ago and, on Tuesday, Richardson International confirmed China revoked its registration to ship canola, without saying why. The Canadian government said China is citing non-compliance, but Canadian food inspectors haven’t identified any pests or bacteria of concern.