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According to data from the European Commission, total imports of oilseeds and vegetable oils into the European Union have fallen substantially below last year's levels at the commencement of the current marketing year, which began on July 1. This trend, initially reported by SunSirs, indicates a broader shift in EU purchasing patterns.
Palm oil imports into the EU for the 2026/27 marketing year experienced a notable decline of 31% year-on-year. This decrease is seen as further evidence of the long-term dampening effect exerted by the EU Renewable Energy Directive (RED) on demand for palm oil. The prevailing weak demand is already exerting downward pressure on current spot prices, and analysts anticipate a similar decline in futures prices due to a generally bearish market sentiment.
For soybeans, shipments to the EU-27 by July 19, 2026, amounted to approximately 379,000 tonnes. This figure represents a sharp 47% reduction compared to the same period in the previous year.
The significant reduction in purchases by one of the world's largest importers underscores a weak short-term consumer demand across the bloc. Industry experts predict that this persistent trend will serve as an an additional bearish factor, contributing to downward pressure on global soybean spot prices.
UkrAgroConsult, with nearly 30 years of expertise in agricultural markets, has compiled an extensive database that forms the foundation of its AgriSupp platform. AgriSupp is a multi-functional online platform offering comprehensive market intelligence for grains and oilseeds, providing access to daily operational information on the Black Sea and Danube markets, analytical reports, and historical data.
Source: UkrAgroConsult