Brazil increases share in EU soybean imports as of October 15, 2023

Soy imports by the European Union (EU) in the 2023/24 season, which began in July, reached 3.16 million metric tons by October 15, a 4% decrease compared to 3.29 million in the previous year, according to data published by the European Commission.

Out of the total imported, 52.3% of soybeans came from Brazil, slightly up from the same period last year (49.2%).

EU soy meal imports totaled 4.43 million tons, a 3% drop from the previous year. However, Brazil increased its share to 69%, up from 55.6% during the same period last year, amounting to more than 3 million tons.

The chart below breaks down Brazil’s soybean exports to the EU from Jan 2019 to Aug. The data is from Datamar’s maritime intelligence service DataLiner.

Soy exports to the EU | Jan 2019 – Aug 2023 | WTMT

Source: DataLiner (click here to request a demo)

In contrast, Argentina, which faced a drought this year, saw its share of soybean meal imports by the EU reduced from 34.6% to 17.6% in the cumulative 2023/24 season.

EU imports of rapeseed during the same period totaled 1.23 million tons, compared to 1.98 million tons the previous year. Meanwhile, palm oil imports reached 1.02 million tons, reflecting a 6% decrease in the same comparison.

Source: Portal do Agronegócio

See the original publication at: https://www.portaldoagronegocio.com.br/agricultura/soja/noticias/importacoes-de-soja-pela-ue-somam-3-16-mi-t-ate-15-10-brasil-eleva-fatia

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