Canola prices have come under pressure in recent weeks, but analysts are expecting that demand for Australian canola seed will remain strong.
Victorian canola prices have fallen by $30 over the past 45 days to $510 Geelong as international prices sag.
Exporter bids fell during March as global oilseed prices were pressured lower under the weight of a record large soybean crop in Brazil.
Domestic buying interest for canola remains solid, with Melbourne crushers still paying $540 a tonne.
More than half of Australia’s canola exports have been shipped to the European Union in the past five years making it the single largest destination.
Europe is now one of the largest canola importers in the world, as it chases sustainably produced canola to make biodiesel.
