Canola prices hit record levels

FIELDS of gold may be more than just a phrase for this year’s canola harvest, with prices hitting historic highs. Photo: SPEC FILE.

CANOLA prices have risen steeply since late last year due to shortages from Canada and local growers are looking forward to harvest in a few months’ time.

Local grower, Andrew Nagorcka told The Spectator early on Monday the trend was encouraging and he was watching it regularly.

“The daily price here – I don’t know what it will open up this week, but it’ll be high 700s Australian dollars (per tonne), (it) might even be close to around $800 – that’s where it’s been peaking at,” he said.