The EU has significantly reduced purchases of vegetable oils

Published Sep 19, 2024

Tridge summary

The European Commission has reported a significant decrease in the import of various edible oils due to reduced demand. The imports of soybean oil and rapeseed oil decreased by 69% and 56% respectively. Palm oil and sunflower oil imports also saw a decrease of 38% and 37% respectively. In the current season, the import of oil crops by EU countries is estimated to have reduced by 21%, and the import of meal by 6%. However, there has been an increase in the import purchases of the main oil crops, with soybeans, rapeseed, and sunflower seeing an increase in imports.

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

Original content

This is reported by IA "APK-Inform" with reference to data from the European Commission. Thus, purchases of soybean oil decreased the most - by 69%, from 190.3 thousand tons to 58.4 thousand tons, import of rapeseed oil - by 56%, from 123.8 thousand tons to 54.7 thousand tons. As for other oils, purchases of palm oil decreased by 38%, from 879.3 thousand tons to 539.6 thousand tons, sunflower oil - by 37%, from 539.9 thousand tons to 339.2 thousand tons. In addition, according to analysts' estimates, in the current season, EU countries reduced the import of oil crops by 21%, to 13.83 million tons, and of meal - by 6%, to 13.8 million tons. At the same time, during the specified period, the ...

Source: AgroPortal.ua