EU increases the US soybean purchases

The United States has cemented its position as the leading supplier of soybeans to the European Union, according to new data from the European Commission (EC), World Grain informs.

In an update issued Jan. 7, the EC said imports of U.S. soybeans by the E.U. totalled 5.2 million tons in July-December 2018, up 112% from the same period a year earlier.

The increase in U.S. soybean imports follows a meeting last July between U.S. President Donald Trump and EC President Jean-Claude Juncker laid the groundwork for reduced barriers and increased trade.

Overall, the United States accounted for 75% of E.U. soybean imports during the July-December 2018 period, followed by Brazil (19%), Canada (2%), Ukraine (1.6%) and Paraguay (1%). In July-December 2017, the United States accounted for 39% of the E.U.’s total soybean imports.