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Good prospects for European soybean harvest in 2024
The cultivable area is growing
Donau Soja cites the rising demand for vegetable proteins, political incentives in the EU and relatively high prices for soybeans as reasons for the crop's attractiveness, particularly in Eastern Europe. In its first Market Report 2024, the non-profit organisation based in Vienna estimates that the area under soy cultivation in Europe could grow by up to ten percent to 5.6 million hectares this year.
Another record harvest expected in Europe
The increase in harvest volume by almost 24 percent to 12.2 million tons of GMO-free soybeans in 2023 gives rise to hopes that, given suitable weather conditions, a new record harvest is in store on the expanded acreage in 2024. The Republic of Moldova, in particular, had an excellent season in 2023 and was able to increase the harvest volume from 31,000 tons (2022) to 50,000 tons on the same acreage (25,000 hectares). The demand for GMO-free soybeans from Europe can be met by the end of April, explains Donau Soja. In Brazil, with an estimated maximum of 2.5 million tons for 2024, significantly less GMO-free soy is now produced than in Europe. The soy crop has begun in Brazil in mid-January. It will be available from May.
Advantages for the food industry
Donau Soja, with over 300 members in 27 countries and 866 certified associates, sees major advantages for the food industry in switching to regional soy from Europe. On the one hand, the standards of Donau Soja and Europe Soya already fulfil the criteria of the EU Forest Protection Regulation. Second, the organisations' certifications achieve a CO2 reduction of up to 90 percent compared to Brazilian soy. Compared to non-certified soybeans from Europe, the CO2 reduction is around 40 percent, emphasises Donau Soja.
Donau Soja: Best conditions for soybean cultivation in Europe in 2024