News

Good availability of GMO-free raw materials in Europe

- Thanks to good harvests in the previous year, the demand for GMO-free maize, soy and rapeseed expected in 2024 can be easily met. This is shown in the latest market report from the European Non-GMO Industry Association (ENGA).

In its new report, which was produced in collaboration with the organisation Donau Soja (Austria) and the ProTerra Foundation (Netherlands), the European Non-GMO Industry Association (ENGA) sheds light on the market situation and trends for the key GMO-free crops soy, maize and rapeseed.

GMO-free soy: Record harvest and good prices

The 2023 record harvest of three million tons of GMO-free soybeans (33 percent more than in the previous year) has significantly improved European supply, according to the market report. The trend is towards expanding cultivation areas, as soy has lower soil and fertiliser requirements than maize and still produces good results.

Another incentive for farmers to expand their soy production is the positive price trend for European GMO-free soybeans, which has so far resisted the fall in the price of genetically modified (GM) soy on the global market, reports ENGA. In Europe, only GM-free soy is grown. In Brazil, on the other hand, where GM soy is predominantly grown, the harvest volume of certified GM-free soy dropped by around 1.5 percent to 2.3 million tons in the current 2023/24 crop season. According to ProTerra, however, this is sufficient to supplement the supply of European goods.

GMO-free maize: Good availability with falling prices

More than 99 percent of European maize acreage is also GMO-free. As the 2023 harvest was good at 61.4 million tons (15.6 percent more than in the previous year), no shortage of supply is expected here either, according to the market report. The EU Directorate-General for Agriculture and Rural Development DG AGRI expects a slight increase in the area under cultivation over the next ten years. However, the price of GMO-free maize is under severe pressure. At the beginning of the year, it fell by around ten percent to less than 180 euros per ton, the lowest level for more than three years, reports ENGA.

GMO-free rapeseed: Secure supply, dropping prices

The EU market is currently also well stocked with GMO-free rapeseed. According to the market report, this is due to the record harvest in Ukraine last year. Ukraine is the most important European rapeseed exporting country. A total of around 20 million tons from the 2023 harvest are available in Europe. Prices are between 420 and 460 euros per ton and are currently declining, reports ENGA, citing DG AGRI's assessment that rapeseed production will decline in the coming years. The reasons for this are the decreasing demand for biofuels in Europe and adverse weather conditions.

ENGA Market Report February 2024

Good prospects for European soybean harvest in 2024