ABARE Cuts Canola Output 20 Pct

ABARE has cut its 2008 Australian canola output estimate by around 20% to 1.3mmt. That is 320,000mt lower than last months estimate of 1.62mmt.

"A lack of spring rainfall across Victoria, South Australia and southern New South Wales has resulted in a marked deterioration in the major winter crops," the Canberra-based government forecaster said in the report.