European purchases of Canadian rapeseed (canola) containing genetically-modified organisms (GMOs) are unlikely in the near future, despite an import ban being lifted, because of ample supplies, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. Imports are possible after this summer, Oil World said.
On March 10, the EU authorised imports of a GMO rapeseed type grown in Canada, clearing the way for a resumption of EU oilseed trading with the country. But this could change if Canadian rapeseed prices fell, it said. "The price discount of Canadian canola vis-a-vis European rapeseed is currently too small to make imports viable but price changes need to be watched and could quickly establish the conditions for the first European canola imports from Canada in many years," it said.
Some market participants are sceptical animal feed meal produced from imported GMO canola would find enough buying interest as it would have to be labelled as containing GMOs, it said. Many consumers are still suspicious about the safety of GMO foods. Canadian canola could become an alternative for European rapeseed processors in the new 2009/10 season starting this summer and could compete with imports from Ukraine and Australia, it said.
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