The last time Canadian canola found itself in the crosshairs of Chinese retaliation, China restricted canola imports from March 2019 to May 2022.
The Canola Council of Canada estimated between March 2019 and August 2020, the canola sector lost upwards of $2.35 billion.
A similar hit is possible, a Morningstar DBRS report says.
“Another punitive trade action could prove to be equally as costly for Canada,” the report reads.