EU soybean imports rise 35% on week, to hit 153k mt

EU weekly soybean imports rose to 153,557 mt in the week to January 29, or 35% above week-on-week, while the previous total was revised up by 113,780 mt, data from the European Commission showed Tuesday.

During the reporting week, Spain was the leading importer receiving 85,781 mt, followed by Portugal (25,020 mt), and Belgium (17,345 mt).

The total soybean import figure for the current marketing year stands at 6.2 million mt, or 20% below last year's pace.

Since July 1, 2022, the Netherlands stands as the leading EU soybean importer with 1.8 million mt arriving, followed by Spain (1.65 million mt), Germany (1.1 million mt ), Italy (467,732 mt), and then Portugal (420,598 mt).

Soybean meal imports into the EU during the reporting week amounted to 216,726 mt, 15% down week-on-week, lifting the total for the marketing year to date to 9.2 million mt, a 4% decrease year-on-year.

During the week between January 22-29, the Netherlands was the leading importer of soybean meal to the European Union (85,192 mt), followed by Spain (55,237 mt) and Ireland (26,400 mt).

From July 1, 2022, the Netherlands and Poland received 1.5 million mt of soybean meal each, Spain imported (1.4 million mt), and France (1.2 million mt).

Finally, weekly palm oil imports totaled 81,471 mt, bringing total imports since July 1, 2022 to 2 million mt, down 38% from last year.

The Netherlands stands as a leading importer of palm oil into the EU, with total imports of 952,406 mt, followed by Italy with 915,324 mt, and Spain with 799,987 mt, since July 1, 2022.