beijing / reuters /Chinese quarantine authorities will allow imports of Canadian canola by some selected crushers located in major growing areas, partially lifting a 2009 ban it imposed because of blackleg concerns.
The import relaxation, likely to be cleared in the second half of the year, would further boost Canadian canola exports later in the year.
The move will support ICE Canada canola futures, which rose 11.6 per cent in February in the biggest monthly gain since June 2010, said analysts.
China’s quarantine bureau will allow nine crushers in the country’s major rapeseed-growing provinces of Inner Mongolia, Jiangsu, Shandong and Zhejiang to import Canadian canola, several traders said. Another nine crushers outside major growing areas in the provinces of Fujian, Guangxi, Liaoning have received authorization to continue to import.