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Commodities Buzz: Canola Production In Canada Estimates Down 8 Percent

Capital Market / 10:24 , Sep 09, 2010

Production of Canola in Canada is estimated at 10.9 million tonnes, down by 8% from 2009-10, and the lowest since 2007-08 as a result of the 11% drop in yields. Seeded area increased to a record high on support from attractive returns compared to competing crops. However, an unusually large portion of the area was abandoned due to excessive rain which, in combination with and cool growing-season temperatures, also reduced expected yields. The supply of canola is estimated to decrease by 9%, to 12.2 million tonnes due to tighter carry-in stocks.

 



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