EU’s 2018-2019 soybean imports climb 9% so far

Soybean imports by the EU, the world’s second-largest buyer of the commodity, in the 2018-19 marketing year (July-June) were at 13.38 million mt as of May 27, up 9% on year, according to a report released by the European Commission on Tuesday.

 

EU imports of soy meal in 2018-19 fell 6% year on year to 15.88 million mt, while soy oil imports were 48% higher at 349,775 mt, the report showed.

 

The market share of US-origin soybeans in the EU was at 64.5% in the marketing year, while Brazil’s share was at 29%. Other major soybean suppliers to the EU were Canada, Paraguay, and Ukraine.

 

The top EU buyers of soybean were the Netherlands, Spain, Denmark, and Italy, the data further showed.

 

Source: S&P Global Platts