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EU-oriented US Soybean Export Rises 112% Year on Year

Pubtime:2019-01-18Author:Source: Hits:

News from official website of European Commission on Jan.7 shows, soybeans imported from USA to EU in current market year (July-December 2018) reached 5.18 million ton, rising 112% on year on year basis, and accounting for 75% of total imported volume of soybeans in EU. USA became the largest exporter of EU soybeans. In the meantime, EU became the largest destination of US soybeans. The soybeans imported from USA account for 28% of total soybean export volume, followed by Argentina (10%) and Mexico (9%).  This is an important measure to implement the joint statement released in the conversion between Junker and Trump. Both sides agreed to strengthen trade in multiple fields, particularly soybeans. Thus, the European Commission regularly released data. In the entire year of 2018, US soybeans accounted for 50% of total soybean import volume in EU, and that from the traditional soybean exporter, Brazil, accounted for 36%. Since the European Commission decided to launch authorization program in December 2018, and allow using US soybeans as biological fuel, EU’s soybean import volume from USA may be increased.