The amount of FEFAC SSGs’ compliant soy products that FEDIOL companies were able to sell as verified or certified in 2021 has dropped to 7%, said the trade group.
There is enough soybean meal of all qualities in Europe until the next harvest and sowing in the EU will be 10-15% above last year, said Donau Soja, an organization that promotes sustainable soy production in Europe.
Argentina’s soy meal exports from the 2021 crop will lose US$575m, or 7% of their value, because of ebbing protein levels in harvested beans, according to a Rosario Board of Trade (BCR) study.
Despite the recent import duty suspension by the Brazilian government, soybean crushers are not keen on importing soybeans and are ready to wait until the new Brazilian harvest hits the market in February, market sources told S&P Global Platts.