(Resource News International) — Canadian flaxseed exports are actually up on the year, despite ongoing problems moving the commodity to the traditional European market.
An export official said the increased export pace was largely due to a pickup in Chinese buying at lower price levels.
According to the latest Canadian Grain Commission data, Canada had exported a total of 400,900 tonnes of flaxseed as of April 4, up from 368,000 tonnes at the same time last year.
Looking into the details, nearly half of the total exports to date, 193,000 tonnes, have moved off the West Coast. That compares with only 5,200 tonnes exported via the West Coast at the same time a year ago.
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The commercial flaxseed exporter said those West Coast sales are primarily destined for China.
“They’ve been good buyers, and everybody’s been able to put product over there,” the exporter said, although he added that “China’s a lower-valued market.”
The exporter agreed the Chinese demand for flaxseed was helping alleviate some of the problems with Europe, due to issues with the discovery of genetically modified Triffid flax in shipments.
However, the higher value of the European market meant the industry would remain focused on regaining that business.
Top-end flaxseed bids in Western Canada can currently be found in the $8 to $8.50 per bushel area, according to the latest Prairie Ag Hotwire data.
