Canada Markets

Statistics Canada reported 808,123 metric tons (mt) of durum was exported in January, the largest monthly volume shipped in 10 years of data reported by the agency and perhaps a great deal longer.

This volume is up 441% from the same month in 2021-22, while is 140% higher than the five-year average for this month. This was also a slightly higher volume that reported by the Canadian Grain Commission in its Exports of Canadian Grain and Wheat Flour report, shown at 790,800 mt.

During the first six months of 2022-23, cumulative exports total 2.733 million metric tons (mmt), up 101% from the same period last crop year and 32.5% higher than the five-year average.

Shipments to two countries make up a large share of volume shipped, with 276,851 mt shipped to Algeria in January, the largest monthly volume shipped to this destination since April 2019, or almost four years. Cumulative volumes of 450,200 mt (Canadian Grain Commission data) are shown up 933% from the same period last crop year.

The 194,180 mt shipped to Italy is the third-largest volume shipped to this destination in the six months of data for this crop year. Over six months, 838,200 mt has been shipped to this destination, while up 226% from the same period last crop year.

Larger supplies in 2022-23 have allowed for exports to a larger number of buyers, which CGC data showing shipments destined for 24 nations in the August-to-January period, up from 18 last crop year. At the same time, shipments are more concentrated this crop year, with 81.6% of exports to the top five buyers, as compared to 75% during the first six months of last crop year.

Cliff Jamieson can be reached at cliff.jamieson@dtn.com

Follow him on Twitter @Cliff Jamieson

(c) Copyright 2023 DTN, LLC. All rights reserved.