Canola pricing raises long-term planning challenges

CANOLA as a crop continues to reach new heights and enjoying some time in flower fields near Pigeon Ponds are Eloise Eats, 8, and sister Ruby Eats, 6. Significant fluctuations in prices over the last few years appear to have stabilised and farmers continue to see it as an integral part of crop rotation with technology also pushing the boundaries of yields and reducing costs. Photo: MARK RABICH.

By Mark Rabich

October 16, 2023 | 7:00 PM

CANOLA pricing has fluctuated considerably in the last three years after several decades of a much smaller range of values, contributing to challenges for farmers in risk and debt management, decision making on input costs and market access.

In 2020, the global pricing for canola experienced a significant and steep rise, driven by a complex set of factors, with a major contributor being strong demand from various industries, including food, biodiesel, and animal feed.