The president of the Canola Council of Canada participated in meetings held this week in China as part of Prime Minister Justin Trudeau's visit to the country.
“Although formal trade negotiations have not started yet, we appreciate the Government of Canada’s commitment to positive China-Canada trade relations,” says Everson. “China is a very important export market for Canadian canola, with significant potential for growth.”
Jim Everson took part in a roundtable with the Prime Minister and had the opportunity to meet with government officials to advocate for a more stable and predictable trade environment.
“We are thankful for the efforts made by Prime Minister Justin Trudeau, International Trade Minister François-Phillipe Champagne and Agriculture and Agri-Food Minister Lawrence MacAulay to advance canola priorities,” he commented. “We’re hopeful their interventions will soon lead to lower tariffs and new seed innovation being adopted in Canada.”
Currently, China’s tariffs on imported canola seed (9%) are three times higher than those applied to soybeans (3%). China has been eliminating tariffs on oilseeds in its trade negotiations with other countries. Chinese tariffs on canola oil are 9% while canola meal has a 5% tariff.
The Canadian canola industry is also eagerly awaiting China’s approval of three canola biotechnology seed traits.
“After approval in China, these traits will help Canadian farmers adopt innovation and be more competitive, producing an estimated $400 million more canola every year using the same amount of land and inputs,” said Everson.
Ater the United States, China is the largest export market for Canadian canola and canola products worth $2.7 billion in 2016.