The temporary rate, which was unexpected, will be 75.8 percent and it will be effective from Thursday, China said.
China has declared primary anti -dumping duties on Canadian Canlla imports in the year of trade controversy over the year since the implementation of oatmeal on Chinese electric vehicle import last August.
The temporary rate will be fixed at 75.8 per cent from Thursday, the Commerce Ministry said in a statement on Tuesday.
Intercontinental Exchange (ICE) November Canola Futures RSX5, World Benchmark in Canola Trade, falling by 6.5 per cent after declined by four months.
Tony Trihuk, a trader of RBC Dominion Securities, said, “It really was a surprise and shock.”
Canola’s largest importer China – also known as rapaceid – is a source of supply of almost all products from Canada. Strong duties may be kept everything, but if they are maintained, imports will end.
“This is huge. Who will give 75 percent of the deposits to bring Canadians to China to China? Canada is worth telling that we don’t need your canola, thank you,”
China’s Commerce Ministry said on Tuesday Anti-dumping probe It was started on September 224 that the agricultural sector of Canada – especially the Canola industry – the “rich” government subsidy and priority policies benefited.
China is up to September, when the inquiry will end formally, to make a final decision on duty, even though the deadline is to extend the deadline by six months. The final decision may result in a different rate or the Tuesday’s decision can be overturned.
China’s premiere Lee Kiang said that there was no intense conflict in the country during phone calls with Canadian Prime Minister Mark Carne that the decision has changed from a harmonious tone in June in June.
“This step … will put an additional pressure on the Canadian government by arguing with China,” said Rogers Pay, the Trivena China Agricultural Analyst.
Canada’s trade, Agriculture and the Prime Minister’s Office did not immediately respond to the request for comment. The Canadian embassy in Beijing did not respond to the request made for the comment of royators.
In March, China had already raised prices on Canoe oil and dinner. Canada is now in the world of trade with the world’s two largest economies, as it has also faced some US goods prices.
Separately, China also launched an anti-dumping inspection of Canadian peas starch and temporarily imposed duties on the import of Halojented Butil Rubber, according to the ministry statement.
‘Increase the loss’
Analysts say, it is difficult to replace billions of tons of Canadian canoe.
China mainly uses the imported canoe to feed an animal for its fisheries. The supply is already in danger due to a separate duty on the Canadian Canola dining imports in March.
This action provides Australia to Australia, which has the opportunity to re -admit the Chinese market with some test cargo this year after freezing for the year.
Australia, the second largest Canola exporter, mainly has been closed in the Chinese market due to Chinese rules to stop the spread of fungal plants called “Blackleg”.
However, despite the increase in Australian imports, “It is very difficult to replace the Canadian Canola until the import demand is reduced,” said Donatas Janakas, an analyst of commodity data firm firm CM Navigator.
The ICE Canyon has a long -standing place in commodity funds in the futures, said the merchants.
“It will help them to go out to get out and will really increase the loss,” said Trihuk.
Another merchant .They said that canal prices are already under pressure because Canada’s crop is believed to be larger than the previous estimate due to good weather.
“We just realize that we have a good crop that is going to come,” the merchant said. “This is an intestine’s push that no one expected.”
Ventum’s financial broker David Devid Derwin said some trades .It is not yet known how to take a Chinese move, as this is not the final rule.
“Is this a trick of negotiations? Or is China kept it and is it?” Dervin asked.
