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Apparent increasing of International canola prices

Apparent increasing of International canola prices

03 June 2015

Latest reasons for a global downturn of canola production are a bad frosts in Canada.

After producing a record global crop of 71.6 mmt year earlier, farmers in Canada and European Union, the world's largest production regions, looked to other crops as prices came down and soils needed new rotations, according to Mecardo analyst Angus Brown. "Farmers in Canada have been going readily on canola for the last couple of years, and now they need to rotate some different crops," said Mecardo.

"In the EU, prices have been at their weakest for the last three or four years and that's a reason for farmers to change canola and plant more of other crops." In Australia crops were affect by a number of pests, diseases and poor weather conditions last year and farmers in south-eastern Australia have turned away from the crop this year.

«Across the Victorian Mallee, the few farmers who had planted canola. They have really cut their seed costs back there and probably cut back on fertiliser costs as well, and targeted those weedier paddocks,» said Simon Craig consultant Agronomist and Farm 360.

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