Today the European Commission has published the latest figures on EU imports of soya beans, showing that the U.S. has become Europe’s main supplier of this commodity, reaching a 52% share compared to 25% in in the same period last year.
Presidents Juncker and Trump issued a EU-U.S. Joint Statement following a meeting in Washington on 25 July, in which the two sides agreed to increase trade in several areas and products, notably soya beans. To monitor the evolution of trade in soya beans, President Juncker put in place a reporting mechanism according to which imports from the United States increased by 133% compared to the same period in the previous year (July-mid-September 2017). Commissioner for Agriculture, Phil Hogan, said: “I welcome the latest trade figures which show that we are delivering on the commitment made by Presidents Juncker and Trump to increase trade, particularly in relation to soya beans. This reflects both our longstanding trade relationship and the potential to achieve so much more by working together to build on that relationship.”The EU currently imports about 14 million tonnes of soya beans per year as a source of protein to feed our animals, including chicken, pigs and cattle, as well as for milk production. Soya beans from the US happen to be a very attractive feed option for European importers and users thanks to their competitive prices. A press release is available online.