Reduction in South American soybean meal export volumes to EU

Published 2021년 1월 29일

Tridge summary

EU imports of soybean meal from Argentina and Brazil have decreased by 9% and 5% respectively due to supply issues including holdups, reduced stocks, and punitive tax policies. As a result, the EU has had to import more raw soybeans, primarily from the US, which now accounts for 44.7% of the EU's imports. However, Brazil's domestic demand for soybeans is increasing, which is causing delays in exporting soybean meal to the EU. The Netherlands is the leading buyer of soybeans in the EU.

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

Original content

EU imports of soybean meal from its top two suppliers, Argentina and Brazil, have been increasingly limited since the start of the 2020-21 marketing year, reports S&P Global Platts. The EU's soybean meal imports dipped 9% year on year to 9.9m mt between July 1, the start of the 2020-21 marketing year and January 24, while raw soybean purchases were 5% higher at 8.3 million mt, imported primarily from the US, according to the European Commission on January 25. Soybean meal crushers and traders in Argentina and Brazil are dealing with holdups in raw bean supply. Soybean farmers in Brazil have reduced stocks, and farmers in Argentina are disinclined to sell their inventories as a result of the government's punitive tax and revenue policies, according to the note from S&P Global. Argentina is also seeking numerous work stoppages by port workers, developments that are not supportive of exports. Both countries are also facing delays in harvest for the 2020-21 soybean crop, which ...

Source: UKfeednavigator