China Launches Anti-Dumping Probe into Canadian Canola Imports Amid Trade Tensions

China announced plans for an anti-dumping investigation into Canadian canola imports following Canada's tariffs on Chinese electric vehicles. Canada is the top exporter of canola, a key commodity for China's oilseed industry. The move has sent domestic rapeseed oil futures to a one-month high.

China announced on Tuesday it will initiate an anti-dumping investigation into canola imports from Canada. This move comes after Ottawa imposed tariffs on Chinese electric vehicles, leading to a peak in domestic rapeseed oil futures prices.

A spokesperson from China's commerce ministry expressed strong opposition to Canada's measures, labeling them as discriminatory and unilateral. Canada, the world's top canola exporter, has significantly increased its exports to China, leading to suspicions of dumping.

In response, rapeseed meal futures on the Zhengzhou Commodity Exchange surged, while China plans to pursue action through the World Trade Organization. Additionally, China will scrutinize some Canadian chemical products for anti-dumping as well.

(With inputs from agencies.)