WINNIPEG, Manitoba/BEIJING: Canadian canola prices have soared to the highest in nearly two years, despite a diplomatic dispute between Ottawa and Beijing, as exporters find roundabout ways to reach top oilseed buyer China.
"Profits are extravagant. Anyone who has the resources to import will definitely buy," said a manager with a China-based canola importer.Canadian canola exports to China fell 45per cent year over year during the 11-month period through June, however total canola exports have jumped 9per cent, helped by a tripling of sales to France and double the shipments to the UAE.
The price rally left farmer Mary-Jane Duncan-Eger, who grows canola near Regina, Saskatchewan,"super-mystified," considering that Canada is heading for a bumper crop.
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