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Oilseed Stocks Up Again
OTTAWA - May 10/06 - SNS -- Total supplies of oilseeds in Canada posted their second year over year increase in the Statistics Canada's March 31 stocks in all positions report, with gains recorded in flax, canola and soybeans.
Total stocks of canola reached a record 5.1 million metric tons (MT), an increase of 1.4 million MT from the March 2005 level of 3.7 million MT.
Commercial stocks rose by 36.2% to 1.0 million MT, while farm stocks jumped by 36.6% to 4.1 million MT. The previous record for total stocks was set in 2000 at 3.9 million MT. The 10-year average is 2.8 million MT.
Statistics Canada said. "The rise in stock levels was mainly the result of record production in 2005 that is slowly being coaxed out of the bins as a result of more encouraging market potential from Europe for use in the manufacture of biodiesel fuel."
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