COPA reported November canola crush at 877,405 MT, a small decline month over month but up 12 percent from last November’s drought-impacted crush and around average for the month.
Oil yield remained lower than levels achieved before the drought: Oil production in November of 361,145 MT was down 2 percent from October.
Canada exported about 67,215 MT of crude canola oil in November and 150,225 MT of refined oil. Crude oil exports were up YOY in August, October, and November, but a year ago, crude oil exports were extraordinarily low due to reduced supply and processors prioritizing refined oil production; crude oil exports remain well below historical volumes. November refined oil exports were up slightly from October and up almost 8 percent year over year.
The value of crude oil exports averaged CAN$2,210 per MT, down slightly from October but up 24 percent from November 2021. The value of refined oil exports averaged CAN$2,624 per MT, a seven-month low but still up 24 percent YOY.
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