EU reduces oilseed imports and increases vegetable oil purchases

Since the beginning of July, the EU countries have imported more than 2.95 mln tonnes of major oilseeds, which is 23% lower than the level in the same period last season.

According to the monitoring data of the European Commission, during the reporting period, the EU imported 2.4 mln tonnes of soybeans (+7% yoy), almost 520 thsd tonnes of rapeseed (-50%), and 41.8 thsd tonnes of sunflower seeds (-93%).

The main suppliers of these products to Europe for more than two months were: Brazil, the US, Australia, Uruguay, Canada and Ukraine. Smaller shipments of oilseeds also came from Serbia, Turkey, Moldova, Argentina and China.

At the same time, the EU countries increased oilseed imports by 5%. For example, imports of sunflower oil increased to 396.3 thsd tonnes (+30% yoy), rapeseed oil – to 83.4 thsd tonnes (+5%), soybean oil – to 158.4 thsd tonnes (+146%). However, palm oil supplies decreased to 547.8 thsd tonnes (-19%).

Indonesia, Malaysia, Guatemala, Ukraine, Belarus, and Argentina supplied the most oil to the EU in the reporting period.

Tags: soybean, sunseed, rapeseed, rapeseed oil, sunflower oil, soybean oil