By BARRY COLEMAN, Northern Canola Growers Association
The canola market received welcome news recently as Canada came to an agreement with China to reduce tariffs on canola. The agreement states that by March 1, China will allow canola meal in duty free, while reducing its tariff on canola seed to 15 percent. There was no announcement for canola oil. This news has created some optimism in the canola market, with canola futures prices rising from $620 to $646 since Jan. 12.
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