AUS – EU DEMAND FOR GM CANOLA GROWING
03 May 2016. Source: Weekly Times (VIC)
Exports of Australian genetically modified canola to Europe are expected to hit records levels this year.
Heavy discounts on the biotech crop are changing EU demand preferences. The EU is a critical market for Australian canola, but until now it has taken little GM canola, grown here since 2008.
Last season the discount on GM canola was more than $60/tonne after China dropped out of the market.
Five ships from Australia with GM canola landed in Europe late last year, according to grain industry sources and Monsanto, which owns the Roundup Ready gene patent used in Australian GM canola.
There has also been a spike in Canadian canola imports to the EU. Almost all canola grown in Canada is biotech variety. LachStock Consulting canola export figures for the past financial year show Canada exported 400,000 tonnes of canola to the EU, up from 77,000 tonnes in 2014-15 and 86,000 in 2013-14.
These figures also show 1.5 million tonnes of Australian canola has been sold into the EU this financial year.
Australian Oilseeds Federation executive director Nick Goddard said the non-GM premium had reached a point where canola buyers were willing to accept GM product…
Victorian Farmers Federation grains president Brett Hosking said growing acceptance of GM was encouraging.
“I think it’s validation of the science and research that’s goes into GM … it has a place in our production system and should be evaluated on its merits,” he said.