Alberta canola producers ‘cautiously optimistic’ following Chinese trade deal

Playing null of undefined

Canada, China arrive at trade deal

Canada, China reach deal on canola

Prime Minister Mark Carney will leave China with a new market for Canadian canola.

A new trade agreement will see duties on Canadian product drop from 84 to 15 per cent by March.

Carney told media the deal shows the nation making enormous progress, and on Friday, southern Alberta producers agreed.

“This is something we’ve been looking forward to,” said Andre Harpe, Alberta Canola Producers Commission chair.

“This has been on my mind, and on a lot of minds. We needed this very, very badly.”

A more minimal tariff doesn’t guarantee Canadian canola will be bought in China, but it should improve the market to the nation’s second-biggest buyer.

Farmers are cautiously optimistic.

On one hand, there’s no doubt futures will improve.

On the other hand, the product is still slightly more expensive than Australian canola.

“We don’t know if 15 per cent is still going to be too big of a hurdle (or) if it’s going to fix the export problem we have,” Fort Macleod producer Stephen Vandervalk told CTV News.

Regardless of the outcome, many do like the signals being sent by Ottawa.

It could even be considered a rare red win in a politically blue sea.

“The Liberal government is not voted in by rural (residents) and farmers,” Vandervalk said.

“So for them to go and do this—I’ll give it to them; it’s refreshing.”

Peter Casurella, SouthGrow Regional Initiative executive director, said in the short term, it’s good news for our producers.

“It will help them make more money, increase our trade options and provide some more certainty back,” Casurella said.

“But hanging over it all is that discussion with the United States that’s coming in the spring.”

CUSMA negotiations take place later in 2026.

Elsewhere in the deal, Canadian canola meal, peas, crabs and lobsters will no longer be subject to a 100 per cent “anti-discrimination” tariff.

Early indication is that canola oil will still face a 100 per cent tariff.