Top Markets

Profiles of Canada’s leading canola markets

United States

Total export value (2023): CAD $8.6 billion

Market profile
Top market for canola oil and meal
Total annual vegetable oil consumption for food use (2022): 10.93 MMT

Imports of Canadian canola (2023)

Seed: 326,308 MT, valued at CAD $280 million
Oil: 2.9 MMT, valued at CAD $6.3 billion
Meal: 3.6 MMT, valued at CAD $2.0 billion

Market trends
Canola is the number two edible oil in the country.
Oil imports hit a new record of 2.9 MMT in 2023.
Meal imports have been between 2.9 and 3.6 MMT annually over the past decade.

Economic benefits of importing Canadian canola
USD $11.2 billion/year in U.S. economic activity
22,000 U.S. jobs

MT = metric tonnes
MMT = million metric tonnes

Sources: GlobalData Plc; Statistics Canada, Canadian International Merchandise Trade Database; The Economic Impact of Canadian-Grown Canola on the U.S. Economy: 2024 Update (GlobalData Plc, August 2024)

China

Total export value (2023): CAD $5.0 billion

Market profile

Top market for canola seed
Largest vegetable oil consumer in the world
Total annual vegetable oil consumption for food use (2022): 37.53 MMT

Consumption of Canadian canola (2023)

Seed: 4.6 MMT, valued at CAD $3.8 billion
Oil: 121,952 MT, valued at CAD $208 million
Meal: 1.8 MMT, valued at CAD $923 million

Market trends
After a three-year market disruption (from 2019-2022), seed imports returned to more normal levels.
Canola meal imports have increased significantly over the past decade.

Economic benefits of importing Canadian canola
USD $3.6 billion of economic activity/year
16,150 jobs in China

MT = metric tonnes
MMT = million metric tonnes

Sources: GlobalData; Statistics Canada, Canadian International Merchandise Trade Database; The Economic Impact of Canadian-Grown Canola on the Chinese Economy (LMC International, December 2013)

Canada

Market profile
Total annual vegetable oil consumption for food use (2022): 1.14 MMT

Consumption of Canadian canola (2023)
Oil: 1,272,464 MMT
Meal: 765,893 MT

Market trends
Canola oil is the #1 edible oil for Canadian consumers, accounting for more than half of all vegetable oil consumed in Canada.
Oil consumption continues to rise.
Biofuel is the newest Canadian market opportunity.

Economic benefits to Canada
CAD $43.7 billion of economic activity/year
206,000 Canadian jobs

MT = metric tonnes
MMT = million metric tonnes

Sources: GlobalData Plc; The Economic Impact of Canola on the Canadian Economy: 2024 Update (GlobalData Plc, August 2024)

Japan

Total export value (2023): CAD $883 million

Market profile
Values Canadian canola seed
Total annual vegetable oil consumption for food use (2022): 2.09 MMT

Consumption of Canadian canola (2023)

Seed: 1.0 MMT, valued at CAD $869 million
Oil: 6,262 MT, valued at CAD $14 million

Market trends
Lower exports in recent years due to market dynamics, however, Japan continues to value Canadian canola.

MT = metric tonnes
MMT = million metric tonnes

Sources: GlobalData; Statistics Canada, Canadian International Merchandise Trade Database

Mexico

Total export value (2023): CAD $1.0 billion

Market profile
A consistent buyer of Canadian canola seed
Total annual vegetable oil consumption for food use (2022): 2.46 MMT

Consumption of Canadian canola (2023)
Seed: 841,041 MT, valued at CAD $749 million
Oil: 118,890 MT, valued at CAD $282 million
Meal: 829 MT, valued at CAD $1.6 million

Market trends
Canola is Canada’s top agri-food export to Mexico.
Canola oil consumption has risen over the past five years.

Economic benefits of importing Canadian canola
MXN $21.9 billion/year in economic activity
7,100 jobs in Mexico

MT = metric tonnes
MMT = million metric tonnes

Sources: GlobalData; Statistics Canada, Canadian International Merchandise Trade Database; The Economic Impact of Canadian-Grown Canola on the Mexican Economy (LMC International, March 2017)

Top 20 markets for Canadian canola

Canadian canola exports – 2023 calendar year

Source: Statistics Canada, Canadian International Merchandise Trade Database
Updated: March 21, 2024

wdt_ID Country Total Value (CAD $) Seed Exports (MT) Oil Exports (MT) Meal Exports (MT)
1 TOTAL EXPORTS TO ALL MARKETS $15.8 billion 7,087,518 3,150,647 5,434,336
2 United States $8.6 billion 326,308 2,854,697 3,601,410
3 China $5.0 billion 4,594,550 121,952 1,829,631
4 Mexico $1.0 billion 841,041 118,890 829
5 Japan $883 million 1,008,763 6,262
6 United Arab Emirates $196 million 222,704 1,373
7 EU $80 million 89,167
8 South Korea $68 million 1,491 38,780
9 Taiwan $7.2 million 4,010
10 Australia $6 million 1,820 102
11 Colombia $3 million 42 1,464
12 Chile $1.7 million 75 85 2,385
13 Brazil $1.5 million 1,169
14 New Zealand $1.5 million 751
15 Hong Kong $784,178 294
16 Vietnam $644,820 21 276
17 Qatar $604,345 238
18 Kuwait $532,543 218
19 Lebanon $466,848 202
20 Saudi Arabia $458,149 187
21 Bahrain $317,509 142

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Top markets

Profiles of Canada’s leading canola markets

Production

Current and historic data for annual canola acres, total production and average yields

Exports

Current and historic data for canola seed, oil and meal exports

Prices

Average monthly export values for canola seed, oil and meal since 2010

Domestic Processing

Current and historic data for total domestic crush, oil production and meal production

Supply & disposition

Annual data tracking supply and movement of Canadian canola