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During the July-December 2018 market year, European imports of US soybeans increased by 112 percent compared to the same period in the previous year, reports Xinhua.
According to information released by the European Commission on Monday, the US remains Europe’s number one soybean supplier, with a share of 75 percent of EU imports.
Conversely, Europe remains by far the top destination of US soybean exports (28 percent), followed by Argentina (10 percent) and Mexico (9 percent).
This is part of the implementation of the Joint Statement agreed between presidents Jean-Claude Juncker of the European Commission and Donald Trump of the United States in July 2018.
In the Joint Statement, the two sides agreed to increase trade in several areas and products, notably soybeans.
These latest developments confirm the US leading position among the EU’s soybean suppliers over the entire calendar year, well ahead of Brazil, Europe’s traditional main supplier. In December 2018, the European Commission launched a public consultation on the decision to authorize the use of US soybeans for biofuels in Europe.
According to the Commission, the US Soybean Sustainability Assurance Protocol submitted by US soybean exporters meets the mandatory sustainability requirements of EU legislation for their use in biofuels.
The EU imports about 14 million tonnes of soybeans per year as a source of protein to feed animals, including chicken, pigs and cattle, as well as for milk production.