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Canola Harvest Impacted on Canadian Prairies

11/25/2019

Millions of acres of canola in Canada are currently buried under heavy snowfall and a proportion of the 2019 crop will only be harvested in early spring 2020.  The unseasonal snowfall will diminish the size of the current canola crop of which a high portion is exported for vegetable oil and animal feed. 

 

In addition to weather problems impacting Canadian farmers, exports ceased in March when Beijing revoked the license of Richardson International and Viterra Inc. a subsidiary of Glencorp PLC claiming irregularities in documentation.  It is presumed that the action taken by China was in retribution for the detention of the CFO of Huawei, Meng Wanzhou, daughter of the company founder and Chairman.