Prairie farmers are bracing for a financial hit in the wake of China saying it will launch an anti-dumping investigation into Canadian canola imports.
China’s move comes in response to Canada’s previously announced plan to impose tariffs on Chinese-made electric vehicles, steel and aluminum.
Ian Boxall, president of the Agricultural Producers Association of Saskatchewan, says canola has historically been “the best money maker” for farmers in his province.
Canada is the world’s biggest exporter of canola, and the crop generates about one-quarter of all crop revenues on Canadian farms, according to the Canola Council of Canada.
China has historically been the biggest buyer of Canadian canola seed, and was expected to purchase about 70 per cent of Canada’s canola shipments this year, according to Statistics Canada.
Boxall says farmers need rules-based trading to prevent their income from becoming collateral damage in trade disputes between countries.
