Brazil’s non-GMO soybean plantings to increase by 24% to meet European demand
Foreign media, June 25 news: Brazil’s 2022/23 non-GMO soybean acreage is expected to increase by 24% year-on-year, far outpacing the increase in total soybean acreage due to growing European demand for conventional soybeans, according to a study by ISL, an industry group in Brazil. .
Brazil’s soybean planting area in 2021/22 is about 41 million hectares, of which non-GMO soybeans account for only 2%. Soybean planting in Brazil is due to begin in September, and ISL expects non-GMO soybean plantings to be close to 1 million hectares, up from 793,000 hectares in 2021/22.
The premium of Brazilian non-GMO soybeans over GMO soybeans is as high as $11 per bag (60kg per bag). India also produces non-GMO soybeans but does not enjoy a premium when selling them to Europe, leading to reduced supplies in India. European buyers and Brazilian farmers advance contracts as global supplies of non-GMO soybeans decline.
More and more Europeans are demanding that the milk they buy comes from non-GMO soybean meal-fed cows and their eggs come from non-GMO soybean-fed hens.