Ottawa expands insurance for Canadian canola exporters amid China dispute [Reuters]
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Source: Reuters
Ottawa expands insurance for Canadian canola exporters amid China dispute OTTAWA/WINNIPEG, Manitoba (Reuters) - Ottawa increased the insurance coverage available for canola exporters, a government corporation said on Thursday, as it seeks to reduce trade risks amid a dispute with China. China halted purchases of Canadian canola in March, citing pests in shipments by Richardson International Ltd and Viterra Inc. The move, coming as Beijing has also expressed anger that Canadian police had arrested a Huawei Technologies Co Ltd executive in December, has pressured canola prices. China was the biggest canola export market for Canada, which is the world’s biggest producer of the crop used to make cooking oil. Export Development Canada (EDC), a government corporation, will increase the credit insurance available to exporters by an additional C$150 million ($112.59 million) worth of sales, EDC Executive Vice President Carl Burlock said at a news conference announcing the change. The insuran
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