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UFOP: EU’s retaliatory tariffs to negatively impact US soybean producers

  • UFOP
  • 1 day ago
  • 2 min read

The European Union is a primary market for U.S. soybeans, second only to China.  

 



The EU has announced initial retaliatory tariffs, however, in response to U.S. tariff policies.  

 



According to UFOP, this move is expected to negatively impact U.S. soybean sales. 

  



After Brazil, the U.S. is the world’s second-largest supplier of soybeans.  

 



With national production totaling just under 119 million metric tons, approximately 50 million tons of U.S. soybeans are expected to be shipped across the world’s oceans in the 2024-’25 season.  

 



While China is the main recipient, the EU also imports a significant share, making it the second-most important market for the U.S.  

 



According to data from the EU Commission, the EU purchased a total of 13.1 million tons of soybeans from abroad in the past crop year.  

 



Of this, approximately 5.9 million tons came from Brazil, while 5.3 million tons were sourced from the U.S., representing a share of nearly 41 percent of total imports. 

 



The picture has been slightly different in the current season.  

 



As of March 16, the EU had obtained around 9.6 million tons of soybeans from abroad, with the U.S. accounting for the largest share—5.1 million tons, or just over 53 percent.  

 



Agrarmarkt Informations-Gesellschaft (mbH) has noted, however, that the Brazilian harvest did not take place until this February and March.  

 



This suggests that in the coming months soybeans will primarily be sourced from South America’s 2025 harvest. 

  



Another key factor is the EU Commission’s announcement of a 25 percent penalty tariff on U.S. agricultural products, including soybeans, in retaliation for the additional tariffs the U.S. imposed on steel and aluminum imports.  

 



The tariffs could take effect as of mid-April.  

 



Given the ample global supply, EU importers are likely to turn to South American soybean suppliers to meet their needs, UFOP noted.  

 



Ukraine is also expected to move further into focus as a supplier.  

 



“In this scenario, the losers would be U.S. soybean producers, as they would lose a crucial market,” UFOP stated.  

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