EU is the top destination of US soya beans exports
EU imports of soya beans from the United States are currently up by 100% at 3,722,860 tonnesEuropost
The European Commission has published on Friday the latest figures on EU imports of soya beans from the United States, showing an increase of 100% compared to the same period last year, reaching 3,722,860 tonnes. As a result, the US share of EU's total imports of soya beans is now at 69%. This means that currently the US accounts for more than two thirds of the soya beans imported by the EU. It also shows that the EU is now by far the top destination of US soya beans exports (27%), followed by Argentina and Mexico (each accounting for 10%).
"Due to a variety of other market and climatic factors, European protein crop production is not sufficient to cover the growing demand. When it comes to soya, EU self-sufficiency amounts to only 5% of our needs. So while we look at developing our growth potential for EU-grown plant proteins, we will continue to import soya beans from our partners, including the United States who is now our main supplier," Commissioner for Agriculture, Phil Hogan said.
The data included in the report on soya beans, comes from the Crops Market Observatory which the European Commission launched in July 2017 to share market data and short-term analysis to ensure more transparency. The data also follows the EU-US Joint Statement by Presidents Juncker and Trump on 25 July, in accordance to which the EU Commission is regularly publishing figures on EU imports of soya beans.