Chinese authorities will impose a temporary duty of 75.8% on supplies of canola seeds (a type of rapeseed) from Canada from 14 August, Xinhua news agency reported.
This decision was made following the results of an anti-dumping investigation launched in September 2024.
The Ministry of Commerce has tentatively reached the following conclusions: imports of rapeseed seeds from Canada were dumped, material damage was caused to the domestic rapeseed industry, and there is a causal link between dumping and actual losses. Therefore, it was decided to impose temporary anti-dumping measures in the form of security payments.
Quotes of November canola futures on the ICE exchange after the announcement of import duties fell by more than 4% to $650.3 per tonne, Reuters reports.
The PRC is the world’s largest importer of canola and is also the main buyer from Canada. In 2024, Canada supplied canola worth about $3.6bn to China.