Latest news with #Canola
Toronto Sun
4 days ago
- Business
- Toronto Sun
LILLEY: Carney silent as China blasts Canada's canola industry
It's an industry bigger that the biggest in Ontario and yet the Carney Liberals are silent as China attacks our producers. Get the latest from Brian Lilley straight to your inbox Canola crop field in full blossom near Leader, Sask. Photo by Larry MacDougal / THE CANADIAN PRESS Canola, the yellow flowering plant that gives so much colour to prairie fields as you drive across the country, is worth more as an industry than auto, steel and aluminum combined. You wouldn't know that based on the actions, and lack of reactions, from the Carney government. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account China just slapped Canadian canola seed with a 75.8% tariff on top of existing tariffs of 109% on canola oil and canola meal. This is a product that has an economic impact of $43 billion per year for Canada's economy. You would think that this would result in outrage from Canadians, especially the Elbows Up Brigade that are forever lamenting Donald Trump's tariffs on Canadian steel, aluminum and auto production. There has been no statement from Prime Minister Mark Carney, his industry minister Melanie Joly has been silent and the statement from his ministers in charge of agriculture and international trade was weak at best. 'Canada is deeply disappointed with China's decision to implement provisional anti-dumping duties in its self-initiated investigation into imports of canola seed from Canada,' said a statement from ministers Heath MacDonald and Maninder Sidhu. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. China takes about $5 billion worth of canola products each year and is our second biggest export market after the United States. Is the Carney government refusing to take the same kind of strong stance they do with other industries because this is a product grown on the prairies, far from the Toronto-Ottawa-Montreal triangle that runs Canada's political and media establishment or is this because they can't scream Orange Man Bad and yell about Donald Trump? 'Of course,' Conservative Leader Pierre Poilievre said when asked if he thought the Carney government would have responded by now if China had tariffed an Ontario or Quebec product. 'I mean this, this Liberal government couldn't care less about the West. They disrespect its main industries,' Poilievre added, 'Liberals don't care about Western farmers and Western producers.' This advertisement has not loaded yet, but your article continues below. Poilievre asked why the federal government was standing behind the financing of the decision by the B.C. government to buy four ships from China. B.C. Ferries, an entity that is wholly owned by the British Columbia government is buying four new ferries from a state owned Chinese shipyard and the federal government is financing the deal. 'I believe the first thing we should do is cancel the billion dollar federal loan,' Poilievre said Thursday in Saskatoon. 'Mark Carney is giving a billion dollars of ship building contracts through a taxpayer funded loan to the Chinese government and the Chinese economy. That is crazy at a time when they're targeting our farmers.' Saskatchewan Premier Scott Moe was trying earlier this week, to no avail, to explain how important this crop is to Canada's economy. This advertisement has not loaded yet, but your article continues below. 'We've estimated about 12 million acres of canola seeded in Saskatchewan just this year,' Moe said. Read More 'To put this in context, this $43 to $45 billion canola industry, Canadian canola industry that we have employing just over 200,000 people, that is significantly larger than the steel industry, the aluminum industry and the car manufacturing industry combined, it's about the same size as the Canadian forestry industry, of which we saw significant supports for just this past week.' Despite their size, despite their impact on the economy, despite the jobs on the line, the canola industry hasn't seen any elbows go up, they haven't seen the supports offered to steel or forestry. The Carney government has been near mute on this file, in part I believe because they don't win enough seats in Western Canada, in particular Saskatchewan. Western alienation, western separatism is a real and growing issue and one that the Carney government needs to deal with. Not giving the same support to a major industry because it is based in an area the Liberals don't do well in won't solve the problem. Neither will the fact that more support has been offered to the electric vehicle industry, which still doesn't really exist in Canada, than has been offered to a very real and thriving canola industry. Canada needs better than this. RECOMMENDED VIDEO Toronto & GTA Columnists World Sunshine Girls Toronto Blue Jays
Bloomberg
6 days ago
- Business
- Bloomberg
China Rapeseed Meal Surges After Duty on Canada Canola Imports
Rapeseed meal prices in China jumped the most in two years on supply concerns after Beijing decided to place levies on imports of canola from top grower Canada following an anti-dumping probe. Most-active futures surged as much as 6.4% — the biggest intraday gain since July 2023 — on the Zhengzhou Commodity Exchange, before surrendering some gains. Rapeseed is known as Canola in Canada.
Global News
7 days ago
- Business
- Global News
China adds ‘additional pressure' with new tariffs on Canadian canola
China on Tuesday announced preliminary anti-dumping duties on Canadian canola imports, a fresh escalation in the year-long trade dispute that began with Ottawa's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement. ICE November canola futures fell four per cent to a three-month low after the announcement. China, the world's largest importer of canola – also known as rapeseed – sources nearly all of its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. 'This is huge. Who will pay a 75 per cent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much,' said one Singapore-based oilseed trader. Story continues below advertisement China's Ministry of Commerce said on Tuesday an anti-dumping probe launched in September 2024 had found Canada's agricultural sector and particularly the canola industry had benefited from 'substantial' government subsidies and preferential policies. 1:49 Alberta farmers brace for China's 100% tariff on Canola oil and meals China has until September, when the investigation formally ends, to make a final decision on the duties, though it has the option of extending that deadline by six months. A final ruling could result in a different rate, or overturn Tuesday's decision. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The decision marks a shift from the conciliatory tone struck in June when China's Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. 'This move… will put additional pressure on Canada's government to sort through trade frictions with China,' said Trivium China agriculture analyst Even Rogers Pay. Story continues below advertisement The Canadian embassy in Beijing did not respond to a request for comment. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. Replacing millions of tons of Canadian canola is likely to be difficult at short notice, say analysts. China primarily uses imported canola to make animal feed for its aquaculture sector. A separate duty on Canadian canola meal imports in March has already put these supplies at risk. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with a few test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease. However, even if Australian imports increase, 'fully replacing Canadian canola will be very difficult unless import demand drops sharply,' said Donatas Jankauskas, an analyst with commodity data firm CM Navigator.
Bloomberg
30-06-2025
- Business
- Bloomberg
Canola Jumps on Demand Hopes After Canada Scraps Digital Tax
Canola futures climbed as much as 3.2% — the biggest intraday gain in two weeks — after the Canadian government said it scrapped a digital tax in an effort to restart talks on a broader trade deal with the US. The move raised hopes that Canada's supplies will continue flowing to the US, the biggest importer along with China of the oilseed used to make cooking oil, biofuel and animal feed. Canola had been primed for a rebound after falling by more then 6% last week, in part on pressure from rainfall in the Prairies that helped alleviate dry soil conditions.
National Post
30-06-2025
- Business
- National Post
FIRST READING: What Canada did right
First Reading is a Canadian politics newsletter curated by the National Post's own Tristin Hopper. To get an early version sent directly to your inbox, sign up here. Article content MAIN STORY Article content Canada is not doing particularly well at the moment — on everything from per-capita GDP to crime rates to basic affordability we're in a bit of a decline. In fact, the author of this piece wrote a whole book about it: Don't Be Canada. Article content But that isn't to say there isn't still much to be proud of with Canada. While invocations of Canadian greatness usually stick to a few clichéd tropes about snowmobiles, the Canadarm and medicare, Canada's contribution to human progress goes far beyond that. Article content Article content There isn't a lot of glamour in Canadian food production. Prestige produce like avocados or exotic fruits generally come from other places. But it's a different story when it comes to churning out gargantuan quantities of cheap calories. Millions of people around the world will have their stomachs filled today thanks to Canada, and that's been the case for more than a century. Article content Canada is the primary supplier to India of peas of lentils; two of the country's most critical food staples. Canola, one of the world's most ubiquitous cooking oils, has Canada right in the name (it stands for 'Canadian oil low acid'). Article content Article content Canada is now the world's third largest exporter of wheat (behind only Russia and the European Union), and it got that way thanks in part to a Canadian-invented strain of wheat, Marquis, that's been called 'one of the greatest triumphs in Canadian agriculture.' Article content Article content The Royal Canadian Mint will routinely churn out special-edition coins that are unlike anything else on earth. There was that black toonie issued to mourn the death of Queen Elizabeth II. Canada was the first country in the world to have coloured coins in general circulation, and also the first glow-in-the-dark coins. Article content Canada has such a good coin-making reputation, in fact, that the Mint has coin contracts with 80 other countries. If you're travelling in Australia, Argentina or the Philippines, among others, you're likely handling currency that originated in Winnipeg. Article content
