Pakistan buys 45,000 tonnes of canola seed from Canada

Importers in Pakistan have purchased a cargo of 45,000 tonnes of canola seed from Canada at US$460/tonne, basis cost and freight, for prompt shipment early this week.

This is the first canola seed cargo to be shipped from Canada to Pakistan this month, trading executives said.

"Due to less oil content in Australia's canola seed this year, buyers have now opted to make purchases from Canada even though the voyage time can be longer," said an executive at a global trading company.

The latest purchase deal is basis 45% oil content in the Canadian cargo while recent imports from Australia yielded only 40%-41% content, he said.

Pakistan is likely to import around one million tonnes of canola seed this year, of which close to 565,000 tonnes have already been contracted from Australia and Canada and around 320,000 tonnes of this have been delivered.