Australia forecasts record canola crop at highest prices in years
Summarised from 2 outlets · Updated 13 Oct, 02:02 · Archive
Australia's canola production is forecast to reach a record 8.1 million tonnes in 2026/27, with prices above $800 a tonne.
Australia's canola crop is forecast to reach a record 8.1 million tonnes in 2026/27, more than 15 per cent above the five-year average, according to the Rabobank winter crop forecast released on Tuesday. Prices are hovering above $800 a tonne, the highest they have been in several years.
Nearly 60 per cent of the canola haul will come from Western Australia, with a 41 per cent increase in planting area this season. Growing conditions in southern Queensland and New South Wales have been tougher, with dry conditions forcing some growers to forego sowing canola. However, crops in southern NSW were boosted by late rainfall in May.
According to Nutrien Ag agronomist Luke Doel, the unusually warm winter offset the late start to the season. 'Everything's come in three or four weeks early,' he said, with flowering starting mid-July. Rabobank analyst Vitor Pistoia said: 'Growth in global consumption of oilseeds is expected to outpace production, while stronger biofuel demand should reduce stocks and support canola prices.'
How it is being reported
- It was all yellow: bumper canola crop after tough startAustralia's canola crop is forecast to bring home the gold, with forecasts of a record crop and high prices despite tough conditions in some key growing areas.The West Australian · 13 Oct, 01:39
- It was all yellow: bumper canola crop after tough startAustralia's canola crop is forecast to bring home the gold, with forecasts of a record crop and high prices despite tough conditions in some key growing areas.Perth Now · 13 Oct, 01:39
In this story: Australia · Western Australia · Queensland · New South Wales · Rabobank · Nutrien Ag · Luke Doel · Vitor Pistoia
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