Market Report: Europe’s soya area to hit record high in 2024

6 June, 2024

The newest issue of the Market Report has been published! The soya area in Europe is forecast to grow by 14% in 2024, to an all-time high of 5.8 million hectares. This will be the 4th consecutive year of expansion in the region. The output is tentatively predicted at a new record of 13.0 million tonnes in 2024, up 7% over the previous season.

Soya area in the EU is projected to expand by 8% to a record 1.15 million ha in 2024. The EU output is tentatively forecast to reach a new record of 3.0 million t (+5%) in 2024 on the back of the higher area.

The recent trend of rising non-GM premiums was mainly driven by the low availability of non-GM soybean in the EU in the previous months (Jan-Apr).

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