China has canceled Canadian agribusiness Richardson International Ltd's reg...
BEIJING/KABUL - China has canceled Canadian agribusiness Richardson International Ltd’s registration to ship canola to China, the company said on Tuesday, the latest sign of tensions between Ottawa and Beijing.
Canada and China are locked in a dispute over trade and telecoms technology that has ensnared the chief financial officer of Huawei Technologies Ltd, the world’s largest telecommunications equipment maker, who faces U.S. criminal charges.
Oilseeds like canola, fruit and grain are Canada’s biggest China export category, making up nearly 17 percent of all exports in 2017, the latest annual data available, according to the Asia Pacific Foundation of Canada.In Ottawa, Agriculture Minister Marie-Claude Bibeau said the government was closely monitoring the situation and any potential impact on Canada’s agricultural trading relationship with Beijing.
China buys some C$2.5 billion of Canadian canola per year, and a slower pace of sales would mean another hit for exporters, which include Viterra and Cargill Ltd.
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