Canola Exporters Brace for Economic Impact From Red Sea Attacks: Rabobank

The disruption of commercial activity in the Suez Canal may have repercussions for Australian trade.

Yemen's Houthi fighters' takeover of the Galaxy Leader Cargo in the Red Sea coast off Hudaydah in the Red Sea, Yemen, on Nov. 20, 2023. Houthi Movement via Getty Images

Geopolitical tensions in the Red Sea are placing pressures on Australia’s agricultural sector through the disruption of international supply chains, according to agribusiness banking company Rabobank.

RaboResearch general manager Stefan Vogel is particularly concerned about Australian canola exports, given that the majority are shipped to Europe through the Suez Canal.