The United States Emerges as Key Soybean Exporter to the European Union

Brazil has lost its position as the leading soybean supplier to the European Union to the United States since the start of the new season. According to the data of the European Commission, from July 1 to November 12 this year the most oilseed was imported to the EU from the USA – 1.765 million tons (share – 44.1%) against 1.5 million tons (38.3%) in the same period last year. At the same time, 1.675 million tons of soybeans were exported from the South American region (share – 41.9%), which generally corresponds to the level for the first 4.5 months of MY 2022/23.

However, in the soybean meal category, Brazil, on the contrary, confidently maintains its leading position. Since July 1, the country has shipped just over 3.72 million tons of the product to Europe (share – 67%) – this is almost 500 thousand tons above the level of July 1 – November 12, 2022. The second position is occupied by Argentina, which significantly reduced shipments to the EU – from 2.08 million tons (share – 35.1%) to 961.8 thousand tons (17.3%). The United States of America rounded out the top three exporters with 265,000 tons (share – 4.8%) against 54,000 tons (0.9%) a year earlier.

The soybean oil lineup is dominated by Argentina, which sent 134.1 thousand tons (share – 51.8%) of product to the EU against 30 thousand tons (16.4%) in MY 2022/23. In addition, significant volumes were also imported from Ukraine – 72.9 thousand tons (share – 28.2%).

Import/Export Statistics

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