Brazil increases soybean deliveries to Europe, takes lead from US as main supplier

In the first four months of the current crop year, the EU imported the highest volume of soybeans since 2021-’22.

Soybeans are the most important oilseed crop imported by the European Union, ahead of rapeseed.

According to information published by the EU Commission, the EU purchased just over 4 million metric tons of soybeans between July and early November 2024.

This translates to a rise of around 70,000 tons from the same period in the 2023-’24.

Brazil and the U.S. remained the main soybean suppliers, with Brazil significantly increasing its delivery volumes.

Specifically, the EU received 2.3 million tons of soy from Brazil in the first four months, up from 1.7 million tons in the previous year, raising Brazil’s share of imports to 57.9 percent.

In other words, Brazil is by far the most important country of origin for soybeans for the EU.

The main reasons for this key role are competitive pricing and abundant feedstock availability.

During the same period, EU imports from the U.S. amounted to 1.2 million tons, around 516,000 tons less than the previous year, reducing the U.S. share of imports to 31 percent.

Imports from Canada also declined, whereas Ukraine increased its soybean volumes on the EU market.

The impending introduction of the EU Deforestation Regulation led importers to place plenty of orders for meal in the first few months of the marketing year to stockpile supplies.