December 16, 2013
Canada's October grain exports up 50% on China's high rapeseed demand
In October, Canadian grain exports rose by 50%, led by a 62% jump in sales of rapeseed to China, Statistics Canada says.
Rapeseed has become Canada's second-biggest grain export next to wheat and the most valuable by dollar value, according to Statistics Canada (Statscan). The seed is crushed to make cooking oil that has a reputation for being low in saturated fats. Cooks like it for its neutral taste that does not carry into the food. The seed residue or meal that is left after crushing is increasingly being fed to dairy cattle or fish.
Rapeseed exports reached US$4.6-billion in 2012, while rapeseed oil exports were US$3.3-billion, the Canola Council said.
Rapeseed prices have fallen by about 14% this year as production rose by 30% to a record 18 million tonnes, even as the amount of land harvested fell by 9%, Statscan said in a separate report this week. The rising yields are due to good weather and better planting methods.
Modern rapeseed was developed from rapeseed by scientists in Manitoba and Saskatchewan in the 1970s. Rapeseed was planted in Canada during the Second World War to make machine lubricants.