Brazil increases soy exports to the European Union in the 2023/24 harvest

Published 2024년 6월 6일

Tridge summary

The European Union's soybean imports for the 2023/24 season slightly decreased by 1% to 11.88 million metric tons. Brazil dominated the market, increasing its share to 41.6% with 4.9 million tons. Soybean meal imports experienced a 4% decrease, with Brazil's share rising to 59%. Rapeseed imports dropped by 29% to 5.10 million tonnes, and palm oil imports were down by 19% to 3.12 million tonnes. The report also highlighted a lack of import data from Hungary since November 2023 due to technical issues.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean imports by the European Union in the 2023/24 season, about to end this month, showed a slight drop of 1%, reaching 11.88 million metric tons by June 2, according to data released by the European Commission on Tuesday . However, Brazil expanded its share of EU soybean imports, reaching 4.9 million tons, which represents 41.6% of all purchases from European countries. This number is higher than the 4.65 million tons recorded in the same period of the previous cycle, when Brazil held 38.6% of the market. With regard to soybean meal, total imports by the EU decreased by 4%, totaling 14.23 million tonnes. However, the imported volume of the Brazilian product increased, reaching 8.39 million tons, representing a share of 59%. In the previous period, Brazil accounted for 52.4% of imports, with a volume of 7.7 million tons. While total EU rapeseed imports saw ...

Source: Portal Do Agronegocio