Reuters news agency informs that according to the data from the German analytic company Analysts Oil World, the EU increases its import of soya oil for meeting the demand of biofuel industry caused by a limited soya oil supply.
According to Oil World assessment, during the period of July-December 2010 the European Union imported about 420-450 tones of soya oil, it’s almost two times more than the import volume of the same period last year. Moreover, this tendency strongly contrasts against the soya oil import dynamics within the period of January-June 2010, when the soya oil import decrease was 8% per year (292 thousand tones).
This year the yield of soya was seriously damaged due to unfavorable weather conditions, especially in Germany and in some regions of Eastern Europe. Therefore, this led to the decrease of soya oil supply.
The main European importers of soya oil are France, Italy and Spain.
Argentina is the major soya oil supplier. In September the delivery volume of soya oil from Argentina to Europe was 98 thousand tones, in September of 2009 this quantity was 3 thousand tones. In October big volumes of sales from Argentina to Italy and France are expected.
