Keystone Agricultural Producers (KAP) is frustrated the federal government hasn’t done more to restore Canadian canola exports to China a month after the current trade dispute began. At press time Monday the Chinese had not replied to Agriculture Minister Marie-Claude Bibeau’s request to send a Canadian delegation to China led by the Canadian Food Inspection
It takes two to tango. That’s why Canada hasn’t sent a ministerial-level trade delegation to restore Canadian canola exports to China. An official in a position to know says the Chinese government hasn’t agreed to such a meeting. However, the official speaking for background, said Canadian and Chinese government officials have been communicating via teleconferencing.
China definitely looms large globally, and that was very evident on March 22 when canola contract prices plummeted on the Intercontinental Exchange (ICE). Canola ended trading on March 18 up $1.50-$2.60 per tonne, with the May contract closing at $466.30. For most of last week, canola had moved up and down a little each way
These days you can hardly read an article on business success without a reference to the importance of branding. But last week the federal budget confirmed what we reported in the last issue — the Canadian Grain Commission and its Certificate Final for export shipments are under review. That means that so is the brand
Being the world’s second-largest economy, there is no doubt China has a lot of economic clout. Every tidbit of news or rumour regarding China has been able to drive prices up or down within minutes — and this past week was no different. There are strong similarities between what has been happening with canola and
The Irish writer and humorist Oscar Wilde once famously noted that a cynic is one who “… knows the price of everything, and the value of nothing.” Wilde wrote those words in the play “Lady Windemere’s Fan” more than 125 years ago, as a rebuttal to what he saw as the growing cynicism of the
When Richardson International, Canada’s largest grain company, ceased being among the Canola Council of Canada’s (CCC) core funders last year, it raised questions about the group’s future. But after a lot of hard work in 2018 reviewing its operations and setting new priorities, the CCC is in good shape, outgoing chair David Dzisiak told reporters
China says it banned imported Canadian canola from Richardson International because of pests, but Canadians suspect it’s politics. China condemns Canada’s decision last fall to detain one of its citizens, Huawei vice-president Meng Wanzhou, at the request of U.S. government on alleged fraud charges and demands she be released. “Well, that’s obviously one of the issues
The Manitoba government issued a statement supporting the province’s canola industry in the wake of China’s ban of the crop shipped through Richardson International whose headquarters are in Winnipeg. “Canola is a key driver of the agriculture industry in this province and in this country, and is Manitoba’s second-largest export product to China,” Growth, Enterprise
Canola futures fell hard during the week ended March 8, hitting their lowest levels in more than two years as concerns over Chinese demand came to the forefront. Over the past few months, rumblings that Chinese demand was waning and Canadian exporters were facing extra hurdles moving canola to the country had been growing louder.