CBH Grain finalizes 2011-12 canola pool

by World Grain Staff
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WEST PERTH, AUSTRALIA — CBH Grain said on Sept. 28 that it has finalized the 2011-12 canola harvest pool at A$556.41 per tonne for CAN1.
The 2011-12 season saw a record canola crop produced in Western Australia, with a total of 1.1 million tonnes (mmt) delivered to the bin.
CBH Grain Head of Pools Bryce Banfield said despite the late start to the growing season, conditions throughout the season proved favorable and growers achieved above average yields in most parts of the state.
"The record crop did however put pressure on prices during the early stages of the pool sales program in January to March of this year," he said. "With our strong push to be the market leader in supplying sustainable canola to Europe, we continued to get good values from key markets in this region for non-GM canola.
"East Asian markets came into play later in the sales program and the majority of the remaining pool tonnes were sold into this region.
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