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Follow-up to EU-US Joint Statement of 25 July: Imports of US #Soybeans increase by more than 280%

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The European Commission has published the latest figures on EU imports of soybeans, showing an increase of 283% in imports of soybeans from the US, bringing the EU's total share of imports of US soybeans to 37%, up from 9% one year ago.

President Juncker has now put in place a bi-monthly reporting mechanism on the evolution of trade in soybeans from the US to the EU. This is the first concrete follow-up to the EU-US Joint Statement agreed in Washington between Commission President Juncker and US President Trump. "The European Union can import more soybeans from the US and this is happening as we speak," President Juncker said. “This is a win-win situation for European and American citizens.”

Agriculture Commissioner Phil Hogan said: "The European Union and the United States have been longstanding partners and there is room to further strengthen our trade relationship. We expressed our willingness to import more soybeans from the United States and this is already happening. European and American farmers have much to gain by working together."

The EU needs soya in Europe as a source of protein to feed our animals, including chicken, pigs and cattle, as well as for milk production. The EU currently imports about 30 million tonnes per year because it cannot produce sufficient quantities. U.S. prices for both soybeans and soymeal are currently the most competitive on the market and therefore a very attractive feed option for European importers and users.

A press release is available with more information.

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