June 9, 2008

EU soy imports to decline based on reduced crush demand 
 
 

EU-27 soy imports are expected to continue their decline due to reduced crush demand, according to a Foreign Agricultural Services attache report released Friday (June 6, 2008 ).

Most soy crush in the EU-27 occurs in Benelux (28 percent in MY 2006/07), Germany (23 percent), Spain (16 percent), Italy (12 percent), and Portugal (7 percent).

MY 2007/08

Reduced soy meal production is resulting in increased meal imports, mainly from Argentina and Brazil, driven by higher demand for soymeal in feed. In addition, this increased meal consumption is also expected to result in reduced stocks.

However, in MY 2008-09, next year, higher use of grains in animal feed because of lower grain prices are expected to reduce the demand for imports of soymeal, the report said.