Since the beginning of July, the European Union has reduced purchases of rapeseed and soybeans.

As of August 6, soybean imports by the European Union in the 2023/24 season have reached 1.09 million tonnes, which is 20% lower compared to 1.37 million tonnes a year earlier, according to data published by the European Commission.

Rapeseed imports into the EU for the same period amounted to 199,963 tonnes, which is 66% lower than the 581,669 tonnes from the previous year.

Import of soybean meal decreased to 1.27 million tonnes, which is 16% lower compared to 1.51 million tonnes from the previous year, while palm oil deliveries amounted to 297,399 tonnes, which is 7% lower compared to 320,374 tonnes from the previous year.

In a separate publication, the Commission confirmed the final data for the 2022/23 season, which ended on June 30, after minor adjustments in an upward direction.

Thus, the annual import of soybeans was 13.1 million tonnes compared to 14.5 million tonnes in 2021/22 MY, rapeseed imports were 7.5 million tonnes compared to 5.5 million in 2021/22 MY, soybean meal was 15.8 million tonnes compared to 16.5 million in the previous season, and palm oil was 4.1 million tonnes compared to 4.9 million tonnes a year earlier.