In Spain, as in the rest of the EU, we will continue to depend on soy imports

Soybean

Spain

Market & Price Trends

Published Dec 15, 2023

Tridge summary

Soybeans are mainly used for animal feed, with 75% of soybean meal used for this purpose, especially in poultry and pig farming. The US, Brazil, and Argentina are the main producers and exporters of soybeans, and Europe depends on imports due to insufficient domestic production. Spain is a major importer of soybeans and flour, with 85% of soybeans and 76% of flours being imported, and the country is the third largest importer in the EU. The demand for soybeans and flour is expected to remain high, particularly for use in pork production.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Soybeans, due to their high content of nutritional elements and lower prices compared to other agricultural products, are mainly used as raw materials for feed in livestock feeding. Around 75% of soybean meal in the world is used in animal feed, especially poultry and pigs. The strong demand for soybeans has led to global production multiplying in recent decades, mainly in the US, Brazil and Argentina, where soybeans are the main agricultural crop in these countries, and they are also the main world exporters. Community production of soybeans is insufficient compared to its high consumption, which is why it depends on imports, due to the small area dedicated to this crop, compared to the rest of the oilseeds. The area of Community soybeans represents 8.3% of the oilseed sector, compared to consumption of 32% and imports of 68%. The production of soybean meals would account for 38% of all oilseeds, 57% of consumption and 83% of imports. In Spain, with a consumption of 70% of ...

Source: Agrodigital