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PSC and Elite Link to roll out next-gen athlete platform

THE Philippine Sports Commission (PSC) and Elite Link, Inc. will soon launch a mobile application designed to empower the Filipino athlete globally, in a new partnership that signals a bold leap toward a new era of modern, data-driven sports management in the Philippines.

PSC Chairman Patrick Gregorio forged an agreement on Tuesday with Elite Link, Inc., a technology company based in Delaware, United States, for the creation of a digital database and recruitment platform connecting Filipino athletes across all sports and competition to support talent identification and development efforts of the PSC and National Sports Associations (NSAs).

Through the app, athletes can register, upload and update their personal profile, statistics, credentials, achievements, and performance highlights for visibility and monitoring by verified coaches, scouts and recruiters, showcasing Filipino athletic talent on a global scale.

“This partnership with Elite Link is a beautiful gift for Philippine sports. It is a chance for our young, talented athletes to find their communities, to discover opportunities, and to realize their potential. This is a great generosity that I am sure future champions will honor with their success,” said Mr. Gregorio after signing the Memorandum of Understanding (MOU) at the Wildflour Restaurant at Rockwell in Makati City.

“We are proud to sign this MOU and join forces with the Philippine Sports Commission to empower the next generation of Filipino athletes. With the Elite Link app, we are creating a game-changing digital platform where athletes can connect with peers, train with specialized coaches, secure sponsorships, join teams, showcase their skills, and get noticed by scouts and recruiters — all while accessing opportunities to compete in sporting events at every level,” said Elite Link President and Chief Executive Officer Guillaume Lucci.

According to Mr. Lucci, they will design, develop, and manage a secure, scalable, and user-friendly mobile application — crafted with the needs of Filipino athletes at its core, yet built with global readiness and appeal to connect with athletes worldwide, fostering a richer and more diverse sporting exchange.

Data protection mechanisms and authentication will be installed to ensure secure access and integrity of athlete data. PSC will be given basic data insights and analytics through a dedicated dashboard to assist in their implementation and oversight of an integrated amateur sports promotion and development program for the country.

“White Cloak Technologies is proud to apply our deep expertise in mobile and web development to the Elite Link project. Leveraging our experience in building scalable architectures, secure data environments, and intuitive user interfaces, our team has been hands-on from concept to code, ensuring the platform meets the highest standards of performance and reliability,” said White Cloak Technologies in a statement.

Solitary cell with mattress on the floor for South Korea’s once powerful ex-first lady

SOUTH KOREA’s former first lady Kim Keon Hee arrives at the special prosecutor’s office in Seoul, South Korea, Aug. 6. — REUTERS/KIM HONG-JI

SEOUL — South Korea’s former first lady Kim Keon Hee will spend her first day in jail on Wednesday in a cell much like the one her husband and ex-President Yoon Suk Yeol occupies as prosecutors pursue the once high-flying couple in a widening criminal probe.

Ms. Kim was formally booked into the Seoul Nambu Detention Center on the western edge of the capital, a comparatively new correctional facility that opened in 2011 and one of the few run by a female warden.

She will be treated in the same way as other inmates but will receive minor adjustments in her daily routine given her status as a high-profile figure, a source familiar with the matter told Reuters.

Ms. Kim was imprisoned after a court approved a warrant for her arrest late on Tuesday on the grounds that she might destroy evidence amid an ongoing investigation into allegations of bribery, stock fraud and influence peddling.

Ms. Kim’s lawyers have denied the accusations against her and dismissed as groundless speculation news reports about some of the gifts she allegedly received in return for favors.

Ms. Kim apologized for causing concern in the country and called herself “a nobody” as she appeared for questioning last week.

Her solitary cell has a small table that can be used as a desk and for eating meals and a floor mattress to sleep on, said the source, who asked not to be identified because he was not authorized to speak to the media.

Ms. Kim will have separate access to a common shower room and be allowed to exercise outdoors for an hour every day except on Sundays, the time staggered to avoid overlap with other inmates, the source said.

Prison will be an entirely new experience for Ms. Kim, unlike for her husband who has already spent about 100 days in jail.

Mr. Yoon is on trial over his botched attempt to impose martial law, on charges of insurrection, an accusation he denies. He has been imprisoned at the Seoul Detention Center, which despite its name is outside the capital to the south.

‘POLITICAL MIND’
The former first couple had lived in a spacious apartment in an upscale district of Seoul before Mr. Yoon’s election as president in May 2022 and had returned there after his ouster for the martial law decree that resulted in a political disaster for him, his party and now for his wife.

Ms. Kim is a wealthy businesswoman in her own right and most of the couple’s assets including the apartment belong to her, according to a government database.

Now, Ms. Kim will receive the same food as the average inmate, usually traditional Korean fare prepared at a cost of about 1,500 won ($1.08) per meal. On Wednesday, toast with strawberry jam, sausages and salad were on the menu for breakfast.

A fine art expert who founded and ran a successful curation agency, Ms. Kim has been embroiled in a number of scandals before and after her husband’s election in 2022, with the controversies at times overshadowing Mr. Yoon’s turbulent presidency.

Her fashion choices and policy lobbying in areas like promoting a ban on eating dog meat made her controversial in a country where a first lady has typically kept a low profile.

Han Dong-soo, a former judge and a prosecutor who worked with Mr. Yoon, said Ms. Kim had “a politically strategic mind” and was a driving force behind her husband’s ascent to top office.

After she married Mr. Yoon when he was 52, Ms. Kim became the main influence of practically all of his thinking and decisions, Han said. Ms. Kim was 39 when they wed.

“Kim Keon Hee chose him,” said Mr. Han. “And she gave him the strategy and energy to be president.” — Reuters

Gaza suffering has reached ‘unimaginable levels,’ say 26 foreign ministers

REUTERS

LONDON/BRUSSELS — The humanitarian crisis in Gaza has reached “unimaginable levels,” Britain, Canada, Australia and several of their European allies said on Tuesday, calling on Israel to allow unrestricted aid into the war-torn Palestinian enclave.

“Famine is unfolding before our eyes. Urgent action is needed now to halt and reverse starvation,” the foreign ministers of 24 countries said in a joint statement.

“We call on the government of Israel to provide authorization for all international NGO (non-governmental organizations) aid shipments and to unblock essential humanitarian actors from operating,” the statement said.

“All crossings and routes must be used to allow a flood of aid into Gaza, including food, nutrition supplies, shelter, fuel, clean water, medicine and medical equipment.”

Israel has denied responsibility for hunger spreading in Gaza, accusing Hamas militants of stealing aid shipments, which Hamas denies. However, in response to a rising international uproar, Israel late last month announced steps to let more aid into the enclave, including pausing fighting for part of the day in some areas and announcing protected routes for aid convoys.

Western capitals, however, say much more aid is needed and some countries have started airdrops with aid over Gaza.

The statement was signed by the foreign ministers of Australia, Belgium, Canada, Cyprus, Denmark, Estonia, Finland, France, Greece, Iceland, Ireland, Japan, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and Britain.

The European Union (EU) later on Tuesday sent an updated statement to include EU member states Italy and Latvia as signatories of the statement.

The EU’s foreign policy chief Kaja Kallas, and two other members of the European Commission also signed the statement.

Some EU member countries, including Germany and Hungary, did not sign it. — Reuters

China’s military says it ‘drove away’ US destroyer near Scarborough Shoal

PHILIPPINE COAST GUARD FACEBOOK PAGE

BEIJING — China’s military said on Wednesday it monitored and “drove away” a US destroyer that sailed near the disputed Scarborough Shoal in the busy waterway of the South China Sea, while the US Navy said its action was in line with international law.

The first known US military operation in at least six years within the shoal’s waters came a day after the Philippines accused Chinese vessels of “dangerous maneuvers and unlawful interference” during a supply mission around the atoll.

In a statement, the Chinese military’s Southern Theatre Command said the USS Higgins had entered the waters “without approval of the Chinese government” on Wednesday.

“The US move seriously violated China’s sovereignty and security, severely undermined peace and stability in the South China Sea,” it added, vowing to keep a “high alert at all times.”

The US Navy’s Seventh Fleet said the Higgins had “asserted navigational rights and freedoms” near the Scarborough Shoal “consistent with international law.”

The operation reflected the US commitment to uphold freedom of navigation and lawful uses of the sea, it told Reuters in an e-mailed statement.

“The United States is defending its right to fly, sail and operate wherever international law allows, as USS Higgins did here. Nothing China says otherwise will deter us.”

China claims almost the entire South China Sea, despite overlapping claims by Brunei, Indonesia, Malaysia, the Philippines, Taiwan and Vietnam.

The US regularly carries out “freedom of navigation” operations in the South China Sea, challenging what it says are curbs on innocent passage imposed by China and other claimants.

The Scarborough Shoal has been a major source of tension in the strategic South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce.

The actions of Chinese vessels in the shoal this week also resulted in a collision of two of them, Manila said, the first such known in the area.

China’s coast guard said it had taken “necessary measures” to expel Philippine vessels from the waters.

In 2016, an international arbitral tribunal ruled there was no basis in international law for Beijing’s claims, based on its historic maps. China does not recognize that decision, however. — Reuters

Trump weighing lawsuit against Fed’s Powell over renovations

REUTERS/KEVIN LAMARQUE/FILE PHOTO

WASHINGTON — US President Donald J. Trump is considering a lawsuit against US Federal Reserve Chair Jerome Powell related to his management of renovations at the Fed’s Washington headquarters, White House spokeswoman Karoline Leavitt said on Tuesday.

The potential move, suggested earlier in a presidential social media post, escalates Mr. Trump’s continuing pressure on the central bank leader to cut interest rates.

A Fed spokesperson did not have a comment.

White House officials have said they are investigating renovations of two historic buildings by the Fed, suggesting poor oversight and potential fraud have driven up the cost unnecessarily and that the project is inappropriately ostentatious to boot.

Mr. Trump visited the site a couple of weeks ago and repeated those accusations, even as he met with Mr. Powell and made his case in person for cutting interest rates.

Fed documents show the cost, originally estimated at $1.9 billion, is now budgeted at $2.4 billion, and the central bank says the extra expenses are mostly due to higher labor and materials costs as well as unexpected challenges, including asbestos abatement.

A Supreme Court opinion issued this summer in an unrelated case about employees of other independent government agencies backs the idea that the Fed is unique and that the law does not allow the President to remove a Fed chair because of differences over the direction of monetary policy. — Reuters

US scales back human rights report, softens criticism of some Trump partner nations

STOCK PHOTO | Image by Isabella Fischer from Unsplash

WASHINGTON — President Donald J. Trump’s administration has scaled back a key US government report on human rights worldwide, dramatically softening criticism of some countries that have been strong partners of the Republican president.

Among such nations are El Salvador and Israel, which rights groups say have extensive records of abuses.

Instead, the widely anticipated 2024 Human Rights Report of the US State department sounded an alarm on the erosion of freedom of speech in Europe and ramped up criticism of Brazil and South Africa, with which Washington has clashed on a host of issues.

Any criticism of governments over their treatment of LGBTQI rights, which appeared in Joseph R. Biden administration editions of the report, appeared to have been largely omitted.

Washington referred to Russia’s invasion of Ukraine mainly as the “Russia-Ukraine war.”

The report’s section on Israel was much shorter than last year’s edition and contained no mention of the severe humanitarian crisis or death toll in Gaza.

More than 61,000 people have been killed in Gaza, the Gaza health ministry says, as a result of Israel’s military assault after an attack by Palestinian militant group Hamas in October 2023.

The report was delayed for months as Mr. Trump appointees altered an earlier State department draft dramatically to bring it in line with “America First” values, said government officials who spoke on condition of anonymity.

The report introduced new categories such as “Life” and “Liberty,” and “Security of the Person.”

“There were no credible reports of significant human rights abuses,” the 2024 report said about El Salvador.

That stood in sharp contrast to the 2023 report that talked about “significant human rights issues” and listed them as credible reports of unlawful or arbitrary killings, torture, and harsh and life-threatening prison conditions.

Washington’s two-way ties with El Salvador have strengthened since Mr. Trump took office, as his administration has deported people to El Salvador with help from President Nayib Bukele.

His country is receiving $6 million from the United States to house the migrants in a high-security mega-prison.

Critics said the report was politically driven.

“The report demonstrates what happens when political agendas take priority over the facts,” said Josh Paul, a former State department official and director of nongovernment organization A New Policy.

“The outcome is a much-abbreviated product that is more reflective of a Soviet propaganda release than of a democratic system.”

State department spokesperson Tammy Bruce said the report was restructured to improve readability and was no longer an expansive list of “politically biased demands and assertions.”

Ms. Bruce declined to respond to specific questions about countries and did not say why a list of rights abuses in El Salvador was removed.

DIFFERING ASSESSMENTS
The Trump administration has moved away from the traditional US promotion of democracy and human rights, seeing it as interference in another country’s affairs, even as it criticized countries selectively, in line with its broader policy towards a particular country.

One example is Europe, where Trump officials repeatedly weighed in on its politics to denounce what they see as suppression of right-wing leaders, including in countries such as Romania, Germany, and France, and accused European authorities of censoring views such as criticism of immigration.

For decades, the State department’s congressionally mandated Human Rights Report has been used as a blueprint of reference for global rights advocacy.

This year’s report was prepared following a major department revamp that included the firing of hundreds of people, many from the agency’s Bureau of Democracy, Human Rights, and Labor, which takes the lead in writing the report.

In April, Secretary of State Marco Rubio wrote an opinion piece saying the bureau had become a platform for “left-wing activists,” and vowing that the Trump administration would reorient it to focus on “Western values.”

In Brazil, where the Trump administration has clashed with the government, the State department found the human rights situation declined, after the 2023 report found no significant changes.

This year’s report took aim at the courts, stating they took action undermining freedom of speech and disproportionately suppressing the speech of supporters of former President Jair Bolsonaro, among others.

Mr. Bolsonaro is on trial before the Supreme Court on charges that he conspired with allies to violently overturn his 2022 electoral loss to leftist President Luiz Inacio Lula da Silva.

Mr. Trump has referred to the case as a “witch hunt” and called it grounds for a 50% tariff on Brazilian goods.

In South Africa, whose government the Trump administration has accused of racial discrimination towards Afrikaners, this year’s report said the human rights situation significantly worsened.

It said, “South Africa took a substantially worrying step towards land expropriation of Afrikaners and further abuses against racial minorities in the country.”

In last year’s report, the State department found no significant changes in the human rights situation in South Africa.

Trump issued an executive order this year calling for the US to resettle Afrikaners.

He described them as victims of “violence against racially disfavored landowners,” accusations that echoed far-right claims but which have been contested by South Africa’s government.

South Africa dismissed the report’s findings, and said it was flawed, inaccurate and disappointing.

“It is ironic that a report from a nation that has exited the United Nations Human Rights Council and therefore no longer sees itself accountable in a multilateral peer review system would seek to produce one-sided fact free reports without any due process or engagement,” the government said. — Reuters

How legacy brands can harness TikTok to boost sales

If used strategically, video platform application TikTok can help long-standing companies tap into new markets, according to Merced Bakeshop, a 53-year-old brand known for its signature “Beehive” pastry.

“We only created our TikTok account at the end of January,” said Ayen Gana, marketing lead of Merced Bakeshop. “It made sense to be on the platform where people are already asking.”

Interview by Almira Martinez
Video editing by Arjale Queral

#DigitalMarketingStrategy
#TikTokForBusiness
#HeritageMeetsDigital
#BrandEvolution
#BusinessWorldPH

Globe urges PBBM to return KP Bill to Congress, reinforces commitment to inclusive growth

Speaking at the 1H 2025 financial media briefing, Globe reiterated its strong support for inclusive internet access and urged President Ferdinand Marcos Jr. (PBBM) to return the Konektadong Pinoy (KP) Bill to Congress for further refinement, ensuring it fully delivers on its transformative objectives.

The company emphasized that while the KP Bill’s core intent is to make internet access more affordable and universally available for all, this vision can only be achieved with a level playing field across the telecommunications industry.

Globe continues to expand its network and launch innovative digital solutions, fully aligned with the government’s mission to bridge the digital divide and foster inclusive growth.

For years, Globe has championed equitable access to affordable and reliable internet, recognizing connectivity as a cornerstone of national development and social empowerment.

The company fully supports KP Bill’s vision and objectives.  However, it also believes that the bill requires careful revisions, so it can become an even stronger framework to empower every Filipino.

“We are advocating for universal access to affordable and reliable internet. But we believe this bill needs further study and reform. We hope the President understands the concerns raised by many in the industry, including respected voices and notable personalities,” Froilan Castelo, General Counsel at Globe said. “Our key concerns include regulatory imbalance, uneven competition, and the lack of transparency and oversight for new players.”

By linking its solid financial performance to its advocacy for inclusive connectivity, Globe underscored how sustainable business growth fuels greater investment in nationwide digital access and socio-economic progress.

Globe also called for close collaboration between the government, industry stakeholders, and Congress to ensure that the KP Bill not only accelerates connectivity but also integrates vital safeguards for long-term stability, fairness, and security in the digital ecosystem.

“Globe will be in support. If this bill has been returned to Congress, we’ll be in support,” Castelo said.

For more information about Globe’s network security efforts, visit www.globe.com.ph.

 


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A bold new chapter begins: Paul MacAndrew appointed as chief executive officer of CEO SUITE

CEO SUITE’s management team welcomes newly appointed CEO, Paul MacAndrew (third from left), as he leads the company into a new era of AI-powered innovation and global expansion.

CEO SUITE, Asia’s leading premium workspace provider, is pleased to announce the appointment of Paul MacAndrew as its new Chief Executive Officer, effective immediately.

“We are excited to welcome Paul to the CEO SUITE family,” said Ms. Mee Kim, president and founder of CEO SUITE. “Under his leadership, we are launching an AI-powered workspace built for the MZ digital generation. This marks a bold new phase of smarter workspaces, faster growth, and broader global presence.”

With over 20 years of leadership experience across Asia-Pacific, Europe, and the UK, Paul brings a proven record in business transformation, strategic growth, and customer-driven innovation. Most recently, he was responsible for leading operations at one of the largest multinational companies, where he achieved significant milestones.

As he guides CEO SUITE through its next chapter of innovation, agility, and global expansion, Paul will reinforce the company’s position as a trusted business hub for modern enterprises.

About CEO SUITE

Founded in 1997 by Ms. Mee Kim, a pioneer in the coworking industry with over 30 years of experience, CEO SUITE is the only coworking company powered by a team of over 200 top industry professionals, many who have been with the company for over 10 to 25 years. This deep depth of expertise and loyalty ensures clients’ businesses are taken care of seamlessly.

Now in its 28th year, CEO SUITE operates 21 locations across 11 major Asian cities, continuing to shape the future of work — powered by technology, human connection, and professional excellence.

Learn more: www.ceosuite.com

 


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Vietnam food association urges trade ministry to challenge Philippine rice import suspension

REUTERS

HANOI – The Vietnam Food Association has asked the country’s trade ministry to challenge a move by the Philippines to suspend rice imports for two months, two sources told Reuters, with traders saying it will harm local production.

The Philippines, Vietnam’s biggest rice buyer, said last week that it would suspend rice imports for 60 days starting from September 1 in an effort to protect local farmers impacted by falling prices during the harvest season.

“The Philippines is Vietnam’s largest rice export market and the suspension would have significant impacts on rice production in Vietnam,” said one of the sources, a trader with knowledge of the matter.

The association and the Ministry of Industry and Trade didn’t immediately respond to Reuters’ requests for comments.

Vietnam exported 2.44 million metric tons of rice to the Philippines in the first seven months of this year, accounting for 44.3% of its total rice shipments over the period, according to official customs data.

Last year, the Philippine market accounted for 46.7% of Vietnam’s total rice exports, with shipments in September and October higher than monthly average.

Vietnam early this year signed a memorandum of understanding on rice trade with the Philippines, where rice production is often prone to flooding and typhoon risks.

“They are suspending rice imports this year to protect their farmers ahead of an expected bumper harvest,” said a second trader based in Ho Chi Minh City.

The Philippines’ rice production in the second quarter grew 13.9% from a year earlier, a sharp acceleration from the 0.3% growth in the first quarter.

Traders said the Philippines’ move to suspend rice imports will put pressure on export prices of Vietnamese rice.

Vietnam’s 5% broken rice was offered at $395 on Tuesday, down by nearly 30% from a year earlier, according to data from the association.

“We fear that prices will fall further if there’s the suspension,” the second trader said. — Reuters

Signal no. 2 up in Batanes as Gorio slightly intensifies

Source: PAGASA

The municipality of Itbayat in Batanes province has been placed under Tropical Cyclone Wind Signal No. 2 as Typhoon Gorio (international name: Podul) slightly intensifies while heading toward Taiwan, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) on Wednesday.

In its weather bulletin released at 5:00 am, PAGASA said that under Signal No. 2, Itbayat is expected to experience winds of 62 to 88 km/h, which can pose a minor to moderate threat to life and property.

Tropical Cyclone Wind Signal No. 1 is also in place for the rest of Batanes province, where winds of 39 to 61 km/h are expected, which can pose a minimal to minor threat to life and property.

Typhoon Gorio slightly intensifies to 140 km/h from 130 km/h near its center, with gusts of up to 170 km/h from 160 km/h.

It was located 165 km Northeast of Itbayat, Batanes, moving west-northwestward at a speed of 25 km/h.

PAGASA said that Gorio is expected to exit the Philippine Area of Responsibility (PAR) on Wednesday afternoon or evening as it continues to approach the eastern coast of southern Taiwan.

A Gale warning has also been issued to the seaboards in Batanes and Babuyan Islands, where rough waves of up to 9.0 meters and 3.5 meters are expected, respectively.

Small vessels are advised not to venture out to sea under these conditions, PAGASA said. – Edg Adrian A. Eva

China slaps temporary duties on Canadian canola

STOCK PHOTO | Image by Alexa from Pixabay

 – China on Tuesday announced preliminary anti-dumping duties on Canadian canola imports, a new escalation in the year-long trade dispute that began with Ottawa’s imposition of tariffs on Chinese electric vehicle imports last August.

The provisional rate will be set at 75.8%, effective from Thursday, the Ministry of Commerce said in a statement.

Canola Council of Canada President Chris Davison said that rate makes the Chinese market effectively closed for Canadian canola, to which Canada exported almost C$5 billion ($3.64 billion) of the oilseed crop in 2024.

ICE November canola futures RSX5 fell as much as 6.5% to a four-month low after the announcement.

“This really came as a surprise and a shock,” said trader Tony Tryhuk of RBC Dominion Securities.

China, the world’s largest importer of canola, also known as rapeseed, sources nearly all its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained.

“This is huge. Who will pay a 75% deposit to bring Canadian canola to China? It is like telling Canada that we don’t need your canola, thank you very much,” said one Singapore-based oilseed trader.

China imposed tariffs on canola oil and meal in March.

Canada is now in a trade conflict with the world’s two largest economies, as its exports also face tariffs imposed by the United States. Canada’s number one canola market is the U.S., followed by China.

China’s Ministry of Commerce said an anti-dumping probe launched in September 2024 had found that Canada’s agricultural sector – particularly the canola industry – had benefited from substantial government subsidies and preferential policies.

The Canadian government and canola industry have previously rejected allegations of dumping. The industry believes China’s complaint is based on other ongoing trade and political disputes, Davison said.

A final ruling could result in a different rate, or overturn Tuesday’s decision.

The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney.

“This move … will put additional pressure on Canada’s government to sort through trade frictions with China,” said Trivium China agriculture analyst Even Rogers Pay.

Canada’s trade, agriculture and prime minister’s office did not immediately respond to request for comment.

Canada has imposed tariffs on Chinese electric vehicles, steel and aluminum.

Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements.

 

NO EASY REPLACEMENT

Replacing millions of tons of Canadian canola is likely to be difficult at short notice, say analysts.

China uses imported canola to make animal feed for its aquaculture sector, as well as for cooking oil.

The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with test cargoes this year after a years-long freeze in the trade, Pay said.

Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease.

However, even if Australian imports increase, “fully replacing Canadian canola will be very difficult unless import demand drops sharply”, said Donatas Jankauskas, an analyst with commodity data firm CM Navigator.

Davison said his industry believes China will need Canada’s canola to meet the sort of demand it has experienced in recent years.

“I think the expectation would be that they could not meet those needs with a quality of a product and the volume that we provide,” Davison said.

Canadian farmers are about to begin harvesting canola and will not be happy to see prices plunge, said Canadian Canola Growers Association President Rick White. As long as the prohibitive duty is there farmers face suppressed prices.

“It’s going to certainly have a damping effect on price for farmers and they’re going to be stuck with that,” White said.

Commodity funds have a substantial long position in ICE canola futures, traders said, which should add fuel to the selloff fire.

“This will help accelerate their exit of that long and could really extend the losses,” said Tryhuk.

Another trader said there was already downward pressure coming into canola prices as Canada’s crop is widely believed to be bigger than many previously forecast due to good weather.

Ventum Financial broker David Derwin said traders were unsure about how to take the Chinese move yet, since it is not a final rule.

“Is it a negotiating tactic? Or does China put it in and that’s that?,” Mr. Derwin asked. – Reuters