EU's imports of soya from the US up 112%

Young Farmers examine soya bean in trailer after harvest
Young Farmers examine soya bean in trailer after harvest

FarmIreland Team

Imports of US soya beans by the European Union increased by 112pc over the current market year (July-December 2018), compared to the same period in the previous year.

With a share of 75pc of EU soya beans imports, the US remains Europe's number one supplier.

Conversely, Europe remains by far the top destination of US soya beans exports (28pc), followed by Argentina (10pc) and Mexico (9pc).

This is part of the implementation of the Joint Statement agreed between Presidents Juncker and Trump in July 2018.

In the Joint Statement, the two sides agreed to increase trade in several areas and products, notably soya beans. As a result, the European Commission is now regularly publishing figures on EU imports.

These latest significant developments in the second half of 2018 contribute to cementing the U.S.' leading position in supplying the EU with soya beans for the entire calendar year, well ahead of Brazil, Europe's traditional main supplier.

In 2018 (January to December), 50pc of Europe's imports originated in the U.S. and 36pc in Brazil (37pc in 2017).

European imports of U.S. soya beans are bound to increase even further, following the decision by the European Commission to launch the process for authorising the use of U.S. soya beans for biofuels.

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In December 2018, the European Commission launched a public consultation on the decision to authorise the use of U.S. soya beans for biofuels in Europe.

According to the Commission's assessment, the "U.S. Soybean Sustainability Assurance Protocol" submitted by U.S. soya exporters meets the mandatory sustainability requirements of EU legislation for their use in biofuels.

The Commission has said the draft implementing decision has been published for feedback until 16 January on the Better Regulation website and should be adopted in the coming weeks.

It said this will allow US exporters to further diversify their European markets whilst contributing to the EU's objectives in the field of renewable energy.

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