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EU: Soaring maize, soya bean, and rapeseed imports

Ample global stocks, sizeable 2019/2020 harvest in the EU, and good prospects in the Americas for the next crop should allow a satisfactory supply of the market in the coming months.

23 April 2020
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According to the Spring 2020 EU Short-term outlook for grains and oilseed markets, the EU cereals crop in 2019/2020 reached 294 million t (+4.5% compared to the 5-year average). Wheat production reached 131 million t, barley 55 million t and maize 70 million t.

Trade is dynamic on the export side, with EU wheat becoming more competitive. EU wheat exports should reach 31.8 million t. Barley exports are also picking up at 10.8 million t, after a 3-year low. On the import side, maize imports are expected at 19.4 million t (+34% vs 5-year average). Durum wheat imports should reach 2.1 million t.

With no major weather disruptions along the season, EU cereal production should reach 287.8 million t in 2020/2021, 2.2% lower than last year, but still 2.2% higher than the 5-year average.

Source: DG Agriculture and Rural Development, based on International Grains Council
Source: DG Agriculture and Rural Development, based on International Grains Council

In 2019/2020, the EU market has been characterised by a low rapeseed production and a slight decline in crushing volumes. Rapeseed production hit a 12-year low at 14.9 million t due to a lower acreage (at 5 million ha, 17% less than the 5-year average).

This has been partly counter-balanced by still high imports of soya beans (14.2 million t) and record high imports of rapeseed (6 million t). As a result, crushing volumes declined to 45.1 million t, slightly less than last year’s record high (-2% year-on-year).

Domestic use of meals is stable, but still higher than the 5-year average (+1.8%). The decline in Distillers Dried Grains availability in the EU could also favour the use of protein meals for feed purposes.

April 20, 2020/ European Commission/ European Union. https://ec.europa.eu/

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