EU increases soybean meal imports due to decline in domestic production

The European Union will significantly increase its imports of soybean meal in the 2024/25 season, which, according to German analysts Oil World, will reach a record 22 million tons, which is 3.6 million tons more than last year. From October 2024 to March 2025, imports of this product increased by 28% compared to the previous season. Argentina remains the main supplier, providing 80% of supplies.

The high demand for soybean meal is explained by the limited supply and high prices for rapeseed and sunflower meal. Imports of these alternative types of meal into the EU are expected to decrease to 3.1 million tons. At the same time, the increase in soybean processing will only partially compensate for the deficit caused by the decrease in domestic production.

Domestic EU meal production this season is set to fall to a three-year low of 33.7 million tonnes, down 0.9 million tonnes from last year. The decline will only be partially offset by increased soybean processing as EU countries face capacity constraints. Meanwhile, meal consumption in the region is set to rise by 2.3 million tonnes as meat production resumes.

Tags: EU, soybean meal