Canadian farmers will carry an “all-time record high” stock of unsold canola into the next season as slumping exports and Chinese trade tensions weigh on the already beleaguered agricultural sector, reports the Financial Times.
Canola stocks rose to 10 million tonnes on March 31, a 10.5% increase over the same period a year earlier, Statistics Canada reported Tuesday.
Farmers will likely be left with 3.5 million tonnes of the oilseed when the season ends July 31, topping the previous record of 3.1 million tonnes in 2014.
