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  • Nov 9th, 2005
  • Comments Off on Canada selling more rapeoil to EU
There are concrete signs Canada is selling more rapeseed (canola) oil to the European Union to meet continuing high EU demand for biofuel, Hamburg-based oilseeds analysts Oil World said.

"We understand that Canada has recently sold three to four cargoes of canola oil to the EU comprising a volume of at least 75,000 tonnes," Oil World said.

"The strong oil demand from the EU biodiesel industry already led to a sharp increase in Canadian canola crushings in October."

Oil World previously said it believed Europe's rapeseed oil industry was currently unable to meet rising demand from biofuel.

It forecasts the EU could import around 200,000 tonnes of rapeoil in 2005/06, up from only 41,000 tonnes in 2004/05 with most supplies coming from Canada.

Copyright Reuters, 2005


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