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GFMM desk: China has said that they will continue exporting some Canadian canola seeds, despite a year-long trade dispute, if the quantity of foreign goods in this invoice is limited. The Canadian Minister of Agriculture said this on Tuesday (March 31, 2020).
Last year, citing pest concerns, Beijing blocked canola seed shipments from Richardson International and Viterra Inc - Canada’s two top exporters. China acted after Canada’s detention of a top Huawei Technologies Co Ltd executive.
Shipments from other firms were still allowed but these had in theory been in jeopardy, give that an agreed standard between the two countries on the amount of foreign material allowed per shipment was due to expire on March 31.
Agriculture Minister Marie-Claude Bibeau said in a statement that China would allow imports to continue provided shipments contained less than 1% foreign material such as straw or chaff.
While Chinese sources had suggested that all canola seed imports would resume, the Canadian government said no agreement had been reached to allow Richardson and Viterra back into the Chinese canola seed market.
A Canadian government source said no new contracts between Canadian canola exporters and Chinese buyers had been signed in the past two to three weeks as industry participants waited for clarity on whether a new standard could be reached.
Asked Tuesday about progress on canola trade with China, Prime Minister Justin Trudeau said Canada had seen “promising signs of positive relations on specific issues”.
Canola, like soybeans, is crushed into protein-rich meal for animal feed and Canada is the world’s top supplier. ICE canola futures edged higher on Tuesday. Find more...
Source: Online/SZK
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