EU soybean production to hit record level

EU-27 soy supply is expected to increase further in the 2024-’25 marketing season.

The main reason for the anticipated larger 2024 harvest is the presumably larger area sown, whereas yields are seen to decline slightly.

The soybean output of the European Union more than tripled over the past 10 years.

The EU Commission expects the 2024 soybean harvest to amount to nearly 3 million metric tons, which translates to a full 6 percent increase on 2023.

In other words, the European Union is set to achieve the biggest soybean harvest on record.

Italy remains the largest EU producer with 1 million tons currently forecast, nearly 1 percent short of the previous year’s amount.

France, the second largest EU supplier, is also expected to experience a marginal decline of half a percent to 384,000 tons.

In contrast, the EU Commission expects other member states’ soy supply to significantly exceed the previous year’s level this year.

Romania is forecast to harvest 371,000 tons, nearly 24 percent more than in 2023.

Production in Croatia and Hungary is forecast to reach 258,000 tons and 182,000 tons, respectively, which translates to increases of 26.5 percent and 2.8 percent.

Austria will probably harvest 293,000 tons, around 8.5 percent more.

The EU Commission also expects a year-on-year rise in soybean harvest for Germany in 2023, specifically by 10.1 percent to 142,000 tons.