Following China’s ban on U.S. soybeans, the U.S. has been in need of new buyers. The EU-28 benefits from this situation as its imports of U.S. soybeans have multiplied.
The EU-28 has always depended on oilseed imports from third countries, because EU demand exceeds EU production by around 30 percent. Above all, soybeans are in strong demand, as they have hardly been produced in the EU-28 to date. In the first half of the 2018-’19 marketing year, the EU-28 imported 6.95 million metric tons of soybeans from third countries. This was up 12 percent from the year-earlier period. The U.S. remained the main supplier, with volumes jumping to 5.2 million tons this season compared to 2.3 million tons the previous year.
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