The EU has reduced purchases of rapeseed and soybeans since the beginning of July

The European Union’s soybean imports in the 2023/24 season reached 1.09 mln tonnes by August 6, down 20% from 1.37 mln tonnes a year earlier, according to data released by the European Commission.

Imports of rapeseed during the same period amounted to 199,963 tons, down 66% from 581,669 tons a year earlier.

Soybean meal imports fell to 1.27 million tons, down 16% from 1.51 million a year earlier, while palm oil shipments totaled 297,399 tons, down 7% from 320,374 tons a year earlier.

In a separate publication, the Commission confirmed the final data for the season 2022/23, which ended on June 30 after minor upward changes.

Thus, the annual imports of soybeans amounted to 13.1 mln tonnes compared to 14.5 mln tonnes in 2021/22 MY, imports of rapeseed – 7.5 mln tonnes compared to 5.5 mln tonnes in 2021/22 MY, soybean meal – 15.8 mln tonnes compared to 16.5 mln tonnes in the previous season, and palm oil – 4.1 mln tonnes compared to 4.9 mln tonnes a year earlier.

Tags: soybean, rapeseed, imports, EU