Canada’s Canola Farmers Pay The Price for Huawei Spat — Panjiva


Canada’s Canola Farmers Pay The Price for Huawei Spat

Ags - Grains/Beans 162 Canada 338 China 1758 Cons. Staples - Food/Beverages 395

China has halted imports of Canadian canola amid a worsening of relations between the two countries, in part due to the detention of Huawei’s CFO. That has also extended a drop in the price of canola to 6.0% year-to-date. The product has been the center of a series of disagreements between the two countries since late 2016. China accounted for 47.3% of Canada’s $4.29 billion of canola exports in 2018. A suspension of purchases by Southsea Oils and Chinatex Grains comes as Canadian exports already fell 11.6% year over year in 2018 due in part to declining prices.

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