Demand for canola in biofuel has driven up prices and growing acreages

Canola prices have practically doubled over the past year, with demand driving the increase, but it’s the biofuel market that is largely responsible.

Winter canola sold for about $500 a tonne in 2020, but it’s increased this year to between $900 and $1,000 a tonne. In Ontario, more than 1,600 hectares of canola are being grown. That’s about 1,000 more hectares than only a few years ago.

An advantage of growing canola is that its harvest comes early, allowing growers time to plant another crop afterwards in the same field.

To read more of the story from CBC News, click here.