Imports of soybeans to the EU decreased by 20% in the first six weeks of the 2024/25 season, but a 2% increase to 13.44 million tons is forecasted.

The European Union in the first six weeks of the 2024/25 season acquired 1.2 million tons of soybeans, which is 20% less than the previous season. Brazil remains the main supplier (75% of the total volume), but deliveries decreased by 5%. The United States reduced supplies by 63%, while Ukraine and Canada increased theirs by 62% and 82% respectively.

It is expected that soybean imports in the EU will reach 13.44 million tons in the current season, exceeding the previous figure by 2%.

21 August 2024

Information received from the European Commission indicates that during the first six weeks of the 2024/25 marketing year, countries of the European Union purchased 1.2 million tons of soybeans. This amount is 20% lower than the previous season of 2023/24, when 1.5 million tons were imported. Brazil remains the main soybean supplier to EU countries, accounting for 75% of total shipments. However, compared to the previous season, soybean imports from Brazil decreased by 5% to 863 thousand tons. Additionally, soybean shipments from the US decreased by 63% to 175 thousand tons.

Meanwhile, soybean imports from Ukraine increased by 62% to 115 thousand tons, and from Canada by 82% to 39 thousand tons during the reporting period.

According to the July forecasts of the European Commission, it is expected that soybean imports to the EU in the current 2024/25 season will reach up to 13.44 million tons, exceeding the previous season's figure by 2%.

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Source: Forkagro.com

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