During the 2013/14 marketing year, EU imports of soyabeans are the largest volume for six years. Forecasts suggest that shipments could reach 13.9 million tonnes in the period ending August 2014, this is up from last years 13.3 million tonnes. Soya crush is expected to rise to 13.5 million tonnes from 13.24 million tonnes.
The analyst's forecast far exceeds the 12.5mt of imports projected by the European Commission in its latest oilseeds market balance sheet.
EU imports of soyabeans in the January-June period are forecast to rise to 7.6 million tonnes , 500 000 tonnes above year ago levels, Oil World said. "The increase comes exclusively from South America, while arrivals from the US, Canada and Ukraine will decline," it explained.
The EU crush of the 10 leading oilseeds is predicted to rise to a record 44.8 million tonnes in the year through to September 2014, climbing 1.6 million tonnes from the previous season, Oil World added.
Demand has dropped from China, the world's biggest importer, which will mean that Brazil will export 43 million tonnes lower 1 million tonnes less than previously estimated. Brazillian production is still expected to be a record 86.1 million tonnes, while the forecast for domestic crush is maintained at 37 million tonnes .
Due to concerns that China will cancel more shipments from the US and Brazil have resulted in a decline in the Soyabean futures on the Chicago Board of Trade.
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