Canola market ‘insatiable’


Source: Capital Press

New and experienced canola growers can expect an “insatiable” market in the next decade, said Karen Sowers, executive director of the Pacific Northwest Canola Association.

“It was already an attractive crop, especially compared to other commodities right now,” Sowers said. “Canola’s an exciting place to be.”

Canola is priced at roughly 22 cents to 23.5 cents per pound. In the Pacific Northwest, spring canola yields can range from 1,500 pounds to 4,000 pounds per acre, and winter yields can be 1,800 pounds to 4,000 pounds per acre.

Sowers expects positive movement in the market, in the U.S. and Canada, for the next decade, pointing to overseas and domestic demand for canola oil, meal for livestock and protein for human consumption.

The Viterra plant in Warden, Washington, is projected to be able to support 350,000 acres of canola production. The Pacific Northwest reached 235,000 acres in 2020, Sowers said.

She expects high demand for spring canola seed.

The association’s virtual canola workshop, still in the planning stages, will include information for marketing, research and equipment settings to new and experienced canola farmers.

“It will require more time than your wheat,” Sowers said.

She’s heard from growers that raising canola made them better wheat farmers.

“They’re getting out there and looking at their wheat, after being out looking more at their canola,” she said.