Saskatchewan’s canola exports have traditionally been focused on China and the United States, accounting for over 83% of the province’s total canola exports in the previous year, as per the Canola Council of Canada data. However, due to the imposition of high tariffs by China and ongoing trade uncertainties with the United States, Saskatchewan is now exploring new export markets for canola.
Warren Kaeding, the Minister of Trade and Export Development for Saskatchewan, emphasized the need for swift actions to support local canola growers in light of the challenging market conditions. Statistics Canada data reveals a significant decline in Saskatchewan’s exports to China following the imposition of anti-dumping tariffs on Canadian canola seed and products.
Kaeding expressed optimism about forthcoming support for the canola industry, highlighting its importance to the federal government. He stressed the interconnectedness of trade decisions across various industries, such as steel, pulse crops, seafood, and pork, underscoring the complexities in balancing trade relationships.
Amidst the ongoing harvest season, Tracy Broughton, the Executive Director of Sask Oilseeds, noted the mixed feelings among farmers despite a promising crop yield. The stress among producers is palpable as they face uncertainty over selling their crops at desired prices.
Looking ahead, Broughton emphasized the necessity for the federal government to address trade challenges and diversify export markets to reduce reliance on specific trading partners. She suggested exploring opportunities in Asian countries to mitigate risks associated with market dependency.
Murad Al-Katib, the CEO of AGT Foods, echoed the sentiment of diversifying trade markets to reduce vulnerability. Al-Katib urged industries and the government to acknowledge the importance of emerging markets and adapt to changing trade dynamics.
In a bid to expand market reach, Kaeding embarked on a trade mission to Southeast Asia, focusing on countries like Indonesia, Malaysia, and Thailand. He highlighted Southeast Asia as a key region for diversifying trade, citing established trade relations and significant canola sales in the ASEAN region.
Kaeding pointed out that canola meal presents a current concern, with a majority of Canadian exports going to the U.S. and China. He mentioned plans to target the ASEAN dairy sector for marketing Saskatchewan’s canola meal, aiming to tap into new opportunities amid evolving trade landscapes.
