Brazil was the leading supplier of soyabeans to the European Union (EU) in the first four months of the current crop year, according to EU Commission data reported by Germany’s Union for the Promotion of Plants and Protein (UFOP).
The EU imported 2.3M tonnes of soyabeans from Brazil in the July-early November 2024 period, up from 1.7M tonnes the previous year, bringing Brazil’s share of imports to the bloc to 57.9%.
Brazil’s significant increase in deliveries was due to competitive pricing and abundant feedstock availability, the 15 November report said.
During the same period, EU imports from the USA totalled 1.2M tonnes, around 516,000 tonnes less than the previous year, reducing the US share of imports to 31%.
Imports from Canada also declined, while Ukraine increased soyabean shipments to the EU market.
Overall, the EU purchased just over 4M tonnes of soyabeans in the period, an increase of around 70,000 tonnes compared to the same period the previous year.
Meanwhile, importers increased soyabean meal orders in the first few months of the marketing year to stockpile supplies due to the impending introduction of the EU Deforestation Regulation (EUDR), the report said.