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China Re-Enters Canadian Canola Market
China agreed to cut tariffs on Canadian canola to about 15%, with importers booking roughly 600,000 tonnes for spring shipment, restoring trade valued at C$4.9 billion in 2024.
- This month, China resumed purchases of Canadian canola after the two countries reached a deal, with crushers and importers quickly booking cargoes for near-term loading.
- By March 1, China is expected to lower tariffs on Canadian canola to about 15% and suspend the 100% duty on canola meal after talks during Prime Minister Mark Carney's visit.
- Traders estimated at least 10 cargoes, about 600,000 tons, while futures rose as much as 0.9% on Jan. 28 and crushers earned more than $40 per ton.
- The reopening restores access to a market valued at roughly $5 billion annually, with local officials and the Canadian canola sector welcoming support for farmers and stability, while allowing 49,000 Chinese electric vehicles into Canada.
- Experts say the policy shift points to strong Chinese demand into 2026 and 2027, with importers booking meal shipments for April–June and ships rigged for canola filling in February.
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MPs celebrate canola tariff relief, but national security, pork, remain opposition concerns with China
Just because the tariff has been reduced today, ‘doesn’t mean it’s not going to come back,’ said Conservative MP Dan Mazier, whose Manitoba riding of Riding Mountain grows the most canola in Canada.
Coverage Details
Total News Sources6
Leaning Left1Leaning Right4Center1Last UpdatedBias Distribution66% Right
Bias Distribution
- 66% of the sources lean Right
66% Right
L 17%
C 17%
R 66%
Factuality
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