Source: Oleoscope (Russia)
EU soybean imports decline reflects changing dynamics in the European oilseed market. Total imports of oilseeds and vegetable oils into the European Union in the 2024/25 season were below last year’s level. Furthermore, according to the European Commission, this trend reflects the expected increase in domestic production and processing of oilseeds within the EU.
EU Soybean Imports Decline: Latest Statistics
As of the end of March 2025, soybean imports into the 27 EU countries (since the start of the season on 1 July 2024) amounted to approximately 9.31 million tonnes. Additionally, this represents a 10% decrease compared to the same period in the previous 2023/24 season and an 11% decrease compared to the same period two years ago.
Market Impact and Price Outlook
The 10% decline in soybean imports, amid rising domestic production and processing of oilseeds, indicates increased domestic supply and a relative reduction in the need for external supplies. Consequently, the Commission notes, predicting downward pressure on spot soybean prices amid declining demand. Moreover, the market expects price pressure in the near term.