Canada’s canola industry is urging Ottawa to act as farmers brace for steep losses over a planned 75.8 per cent preliminary tariff from China on canola seed.
China said the measure would start Thursday, nearly a year after Beijing launched an anti-dumping probe into Canadian canola.
The investigation is in response to Canada’s 100 per cent tariff on Chinese electric vehicles.
Canadian Canola Growers Association President and CEO Rick White says these tariffs will have a significant impact on the Canola industry in our country.
"When we looked at our Canola exports to China last year, they took 5.9 million metric tonnes of seed, valued at $4 billion. And that is just the seed component. So, if it is going to be shut down now, we are not going to have demand for at least 5 million tonnes of seed. And that is a big chunk. That is our second biggest export market for Canola."
China’s Ministry of Commerce argued Canadian canola companies were “dumping” the product into the Chinese market, hurting its domestic canola oil market.
Canada’s canola industry and Ottawa have rejected that claim, arguing its companies are following international rules-based trade.
