Rapeseed supplies to the EU in 2022/23 MY reached 4.26 million tons

The European Union has imported more than 6 million tons of soybeans since the beginning of the 2022/23 season, which is 19% lower than the result in the same period of the previous MY (7.47 million tons). This was reported by Reuters with reference to the monitoring data of experts by the European Commission.

Deliveries of rapeseed to the EU in MY 2022/23 reached 4.26 million tons, which is 41% more than 3.02 million tons a year earlier.

Purchases of soybean meal for the same period amounted to 8.95 million tons, which is slightly lower than in 2021/22 MY (9.18 million tons). Imports of palm oil since the beginning of the current season have been fixed at 1.89 million tons (-39% by 2021/22 MY; 3.11 million tons).

At the same time, the European Commission also stated that experts are still experiencing difficulties in obtaining data on trade in Germany and Italy.

“The export data reported by Germany since November may be inaccurate as the country switched to a new declaration system, while information on Italian imports was only available until the end of November,” the note says.

The next weekly data on agricultural trade will be published on February 1, the monitoring notes.

Tags: soybean, rapeseed, palm oil, EU