According to EU data, the total import volume of soybean meal in the EU has reached 15.77 million tons so far in 2024/25, a significant increase of 24% year-on-year and an increase of 630,000 tons compared to a week ago, mainly due to a surge in imports from Argentina. In fact, the import volume so far this year has exceeded the full year of 2023/24 (15.7 million tons).

Brazil remains the top supplier of soybean meal to the European Union, with imports of 7.9 million tons as of May 4, 2025, an increase of 2.7% from 7.69 million tons in the same period last year. But its share has decreased from 60.4% last year to 50.1%.

Argentina is the second largest supplier, with a quantity of 5.73 million tons, an increase of 119% from 2.61 million tons in the same period last year; The share has significantly increased from 20.5% in the same period last year to 36.3%, benefiting from the recovery of production and the decrease in export taxes.

Ukraine, the third largest supplier, supplied 760,000 tons, higher than 430,000 tons in the same period last year; The share increased from 3.4% to 4.8%.

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