A snippet from Bloomberg on how Canadian canola exports to China are, in effect, booming.
First, the background:
- China was the top of importer of Canadian canola
- At the end of 2018 Canada arrested Huawei's Meng Wanzhou
- China responded by, amongst other measures, banning canola seed imports from two Canadian exporters
- canola exports to China have thus fallen
So, what's happening now?
- Canadian canola exports to the United Arab Emirates jumped 533% from last year
- The canola is getting crushed there and the oil is being exported to China
Here is the Bloomberg link for more
