EU palm oil and soybean imports fell sharply at the start of the MY 2026/27
According to the European Commission, at the beginning of the current marketing year (which began on July 1), total import volumes of oilseeds and vegetable oils into the European Union are significantly below last year’s levels, SunSirs reports.
Palm oil imports into the EU in the MY 2026/27 fell by 31% year-on-year. This confirms the long-term dampening effect of the EU Renewable Energy Directive (RED) on demand. Weak demand is already putting downward pressure on spot prices, and analysts expect a similar decline in futures prices amid bearish sentiment.
By July 19, 2026, soybean shipments to the EU-27 totaled only approximately 379,000 tonnes, down 47% from the same period last year.
The sharp decline in purchases by one of the world’s largest importers reflects weak short-term consumer demand. Experts expect this trend to become an additional bearish factor and put downward pressure on global soybean spot prices.
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