All we hear about in North America is how lucky corn growers are to have booming ethanol production.
But Nicholas Hoyt, a trader and risk management specialist with Bunge in Canada, pointed out to people at GrainWorld that European biodiesel demand is consuming so much of that continent’s oilseed crops that Canadian canola is actually making it into that market, despite all the obstacles.
So, in other words, the favour the American government is doing for the cereal grains industry is being matched by the Eurofavour for the vegetable oil industry. (For crop growers, that’s a good form of international cooperation.)
Hoyt said Bunge expects Canadian farmers to seed about 19.5 million acres of canola. “There’s talk of 20.”
In perfect weather conditions, 20.5 million acres could be seeded to canola.
