November 24, 2008
ASA weekly: EU to grant default approval to GM soy
Following EU's lack of consensus agreement last week to allow imports of a GM soy variety developed by Monsanto, the European Commission (EC) will likely grant it a default approval in the next weeks.
The second-generation GM soy known commercially as Roundup Ready2Yield is designed to resist glyphosate Roundup Ready herbicides and ups yields for farmers. Largely believed to be safe, it will receive a go-ahead on a default 10-year approval.
Monsanto's application was forwarded to the EC (executive arm of the EU) after a meeting of EU national experts in September failed to reach agreement. There were 13 countries in favor of approval, namely Belgium, Britain, Bulgaria, Denmark, Estonia, Finland, Portugal, Romania, Slovakia, Spain, Sweden, the Czech Republic and Netherlands. Austria, Cyprus, Greece, Hungary, Lithuania, Luxembourg, Malta and Poland voted against. The rest did not vote.
Europe's livestock and feed manufacturing industries are heavily reliant on soy and its products for protein-rich feed. Hence there is a fear that a lack of approvals on biotech soy being used by the main producing countries could result in imports being impossible because of the EU's zero-tolerance stance over cross contamination.
|
U.S. & South America Soybean/Products Balance | |||||||||
|
　 |
United States |
|
| ||||||
|
　 |
Actual |
Estimate |
Proj. |
Actual |
Estimate |
Proj. |
Actual |
Estimate |
Proj. |
|
　 |
Jul 6 |
Aug 7 |
Sep 8 |
Jul 6 |
Aug 7 |
Sep 8 |
Jul 6 |
Aug 7 |
Sep 8 |
|
Soybeans |
thousand tonnes | ||||||||
|
Carryin |
12,229 |
15,617 |
3,811 |
334 |
1,876 |
680 |
2,252 |
3,110 |
3,235 |
|
Production |
86,770 |
70,358 |
79,848 |
48,800 |
46,500 |
50,500 |
59,000 |
61,000 |
62,500 |
|
Imports |
246 |
272 |
272 |
2,336 |
3,325 |
3,450 |
108 |
150 |
160 |
|
Crush |
49,198 |
49,396 |
48,580 |
35,962 |
36,400 |
37,890 |
31,511 |
32,400 |
32,500 |
|
Exports |
30,428 |
31,434 |
27,216 |
12,132 |
13,100 |
14,100 |
23,805 |
25,650 |
27,500 |
|
Other |
4,002 |
1,606 |
4,469 |
1,500 |
1,521 |
1,550 |
2,934 |
2,975 |
3,025 |
|
Usage |
83,628 |
82,436 |
80,265 |
49,594 |
51,021 |
53,540 |
58,250 |
61,025 |
63,025 |
|
Carryout |
15,617 |
3,811 |
3,666 |
1,876 |
680 |
1,090 |
3,110 |
3,235 |
2,870 |
|
Soymeal |
thousand tonnes | ||||||||
|
Carryin |
285 |
314 |
272 |
2,003 |
1,144 |
1,610 |
863 |
1,563 |
2,263 |
|
Production |
39,058 |
39,022 |
38,469 |
27,856 |
28,621 |
29,745 |
24,420 |
25,130 |
25,190 |
|
Domestic use |
31,184 |
30,618 |
30,844 |
617 |
640 |
696 |
11,520 |
12,155 |
12,550 |
|
Net Exports |
7,845 |
8,446 |
7,652 |
28,098 |
27,515 |
29,000 |
12,200 |
12,275 |
12,970 |
|
Usage |
39,029 |
39,064 |
38,496 |
28,715 |
28,155 |
29,696 |
23,720 |
24,430 |
25,520 |
|
Carryout |
314 |
272 |
245 |
1,144 |
1,610 |
1,659 |
1,563 |
2,263 |
1,933 |
|
Soybean oil |
thousand tonnes | ||||||||
|
Carryin |
1,365 |
1,399 |
1,195 |
487 |
310 |
331 |
300 |
341 |
336 |
|
Production |
9,294 |
9,498 |
9,231 |
6,917 |
6,958 |
7,245 |
6,050 |
6,220 |
6,240 |
|
Domestic use |
8,420 |
8,368 |
8,324 |
580 |
995 |
1,170 |
3,550 |
3,895 |
4,048 |
|
Net exports |
840 |
1,334 |
1,043 |
6,514 |
5,942 |
6,035 |
2,459 |
2,330 |
2,190 |
|
Usage |
9,260 |
9,702 |
9,367 |
7,094 |
6,937 |
7,205 |
6,009 |
6,225 |
6,238 |
|
Carryout |
1,399 |
1,195 |
1,059 |
310 |
331 |
371 |
341 |
336 |
338 |
|
USDA Export Sales (tmt) - Week of 13 November 2008 | ||||||||
|
　 |
　 |
New |
Accum. |
　 |
　 |
　 |
New |
Accum. |
|
Country |
Commodity |
Sales |
Exports |
　 |
Country |
Commodity |
Sales |
Exports |
|
|
Soybeans |
469.30 |
3811.90 |
　 |
|
Soymeal |
6.50 |
18.10 |
|
|
Soybeans |
6.00 |
23.50 |
　 |
|
Soymeal |
0.80 |
17.30 |
|
|
Soybeans |
76.70 |
309.90 |
　 |
|
Soymeal |
26.60 |
213.80 |
|
|
Soybeans |
25.80 |
481.90 |
　 |
|
Soymeal |
1.50 |
25.50 |
|
Korea, Rep. |
Soybeans |
2.70 |
114.30 |
　 |
|
Soymeal |
0.80 |
12.60 |
|
|
Soybeans |
122.20 |
661.50 |
　 |
UAE |
Soymeal |
7.00 |
0 |
|
|
Soybeans |
59.60 |
190.40 |
　 |
|
Soyoil |
1.50 |
0 |
|
|
Soybeans |
1.00 |
4.50 |
　 |
|
Soyoil |
3.10 |
0 |
|
|
Soybeans |
2.40 |
159.90 |
　 |
|
Soyoil |
1.30 |
2.90 |
|
|
Soybeans |
75.80 |
386.80 |
　 |
Export Sales Totals (tmt) | |||
|
|
Soybeans |
2.40 |
6.90 |
　 |
　 |
Outstanding |
Accum. |
New |
|
|
Soymeal |
9.30 |
130.10 |
　 |
Commodity |
Sales |
Exports |
Sales |
|
|
Soymeal |
40.00 |
12.10 |
　 |
Soybeans |
9,162.60 |
7,294.20 |
835.80 |
|
Dom. Rep. |
Soymeal |
4.50 |
38.60 |
　 |
Soymeal |
1,887.30 |
779.30 |
92.30 |
|
|
Soymeal |
2.50 |
27.50 |
　 |
Soyoil |
139.20 |
47.70 |
8.00 |
