Friday, 08 February 2019 10:55

Canadian canola runs into Chinese delays after Huawei arrest

547 Canola

A political dispute between China and Canada over the arrest of a Huawei executive is slowing canola shipments through Chinese ports. Shipments are taking longer to clear Chinese customs and obtain GMO permits needed to import genetically modified crops, including canola. China buys some $2.5 billion of Canadian canola per year, and the delays have caused some importers to hesitate to buy from their biggest supplier. Canola futures prices have stayed firm since the arrest, but brokers say worries about China have caused prices for canola to miss out on a boost in sales of other oils.

 

 

 

 

Read 191 times Last modified on Friday, 08 February 2019 12:15
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