Soybean output up in Europe, but fall off in demand predicted for non-GM meal

Published 2021년 11월 26일

Tridge summary

European soybean production for 2021 is projected to increase by 4.5% from 2020, reaching 9.4 million tons, with Ukraine and European Russia experiencing the largest gains. However, the average yield has slightly decreased from the previous year. The price peak for European non-GM beans is beginning to soften, but soymeal activity remains low due to the profitability challenges in the feed industry. There is an anticipated reduction in non-GM soybean meal demand, and Italian crushers are struggling to compete in export markets. Meanwhile, the price of organic soybeans remains high and importers are awaiting more supply with the necessary documentation.

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

Original content

Soybean production on the European continent is expected to be higher than 2020. At a forecast 9.4m tons for 2021, soybean output in the European region will be 4.5% above the previous year’s level, according to Donau Soja, in its market report for November. Average yield is estimated at 2.17 mt/ha in 2021, slightly lower compared to the last year’s result: 2.23 mt/ha. The biggest volume gains are expected in Ukraine (+530,000 mt) and (European) Russia (+163,000 mt). The largest European harvest, that in Ukraine, has been completed, with an official yield of 2.64 tons per hectare and a total production of 3.32m tons. Typically, that market represents one third of European soybean production. “The Donau Soja crop tour was more pessimistic with respect to yields [in Ukraine], but we will find out whether the final stocks are more in line with our estimates or those of the government by the end of the season.” Ukrainian non-GM exporters are still selling cautiously, and it is ...

Source: UKfeednavigator