Record yields for canola in Canada

Agricultural , Food Oct 08, 2013 No Comments

Canola oilThe Canadian government raised sharply its estimates for canola-seed production on Friday, sending prices in the futures market toward three-year lows. The canola seed is used to make cooking oil that in recent years has made big inroads among health-conscious consumers. It competes with Soybean Oil and Palm Oil.

Prices have tumbled 21% this year as investors and traders have anticipated the big influx of supplies from Canada, the world’s largest exporter and No. 2 grower of canola, after the European Union.

On Friday, prices for the November canola futures contract fell 1.3% to 477.60 Canadian dollars (US$462.27) a metric ton on the ICE Futures Canada exchange.

via Canola Falls as Canada Increases Its Forecast – WSJ.com

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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