For 7 recent years, Europe doubled the production of soybeans




For 7 recent years, the general production of soybeans in European countries almost doubled, and the forecast of production in 2018 totals 10 mln tonnes of the oilseed, declared the soy market analyst at Danube Soya Organisation, Bertalan Kruppa during his report within frames of the conference "Fat-and-Oil Industry - 2018" in Kyiv, on November 6.

Increasing of the profitability of the oilseed production, the growth of demand for GM-free raw materials, legislative initiatives to diversify the planted areas under agricultural crops, raising of farmers awareness about the benefits of the reporting oilseed crop became the main drivers of the production growth, explained the expert.

Also, B.Kruppa reported that to date, there are 13 oilseed processing plants in Europe, which work with GM-free soybeans, they are located in the central part of the region. The consumption rates of soybean meal produced from GM-free raw materials also demonstrated the upward trend, and in 2017 the figures reached 3.8 mln tonnes, or nearly 12-15% of the general production volumes of soybean meal. Germany (27%), Italy (12%), France (11%), the Scandinavian countries (19%) and Serbia (9%) are the countries with the highest consumption of GM-free soybean meal in Europe, the analyst added.

At the same time, B.Kruppa noted that in the current terms Ukraine is one of the most perspective suppliers of raw materials for the production of GM-free soybean meal.

It should also be taken into account that the premium for GM-free soybean meal in Europe greatly varies depending on many factors, such as batch volumes, logistics, etc. The trading platform in Rotterdam is the major price benchmark, where it is possible to sell GM-free soybean meal with the premium of nearly 90 EUR/t, the speaker said.

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