Four major producers have announced plans to develop or substantially expand canola crushing facilities in Canada in the past 10 weeks, most recently Ceres Global, which just reported this week its intent to build a $350 million facility in Saskatchewan.
Argus Media reports Cargill and Viterra, as well as Richardson International, made similar announcements in March and April, which combined could boost Canada's canola crushing capacity by 5.7 million tons/year from 2024, a rise of more than 50% from 10.3 million tons crushed in 2020, official data from Statistics Canada show.
Canada's canola crushing rates have rocketed in recent months, with a record 958,000 tons processed in March and 902,000 tons in April, amid strong international demand from the biofuels sector.
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