The Canadian government will strengthen an insurance program for rapeseed exporters seeking to find new buyers in light of trade tensions between Canada and China.
China, implicated in a deepening dispute with Canada, has blocked the import of Canadian canola seeds, depriving producers of their largest export market.
Senior Canadian officials, such as Secretary of Commerce Jim Carr and Minister of Agriculture Marie Claude Bebo, are expected to announce on Thursday June 13 that Ottawa provides additional credit insurance for grain companies selling rapeseed abroad, anonymously said sources.
Complementary insurance will be provided by the Canadian Export Credit Agency and a state-owned enterprise wholly owned by the Canadian Government Export Development Canada. A spokeswoman for the agency has already said that the level of support for the canola sector may vary depending on the year and market conditions.
Today, Canada is the world's largest rapeseed producer.
