ADM launch traceable soya product as EU regulations loom
© Tim Scrivener Global feed and grain trader ADM has launched a new soya offering for its European customers, which should allow it to continue to supply the market in 2025 when new regulations come into force.
Both EU and UK regulations are due to be imposed regulating imports of soya products, however supporting UK legislation was delayed as a result of the general election.
There is also an industry commitment in the UK with 48 signatories collaborating to ensure that all physical shipments of soya to the UK are deforestation- and conversion-free by 2025, as part of the UK Soy Manifesto.
See also: Rapeseed meal heads above £300/t as soy rules loom
ADM has announced it can provide fully verified, segregated, traceable soya bean meal and oil after enrolling almost 5,300 farmers in a traceability programme earlier this year.
Sebastian Kuck, soya crush general manager for EMEA (Europe, Middle East, and Africa) at ADM, said: “Thanks to the critical participation of our farmer network as well as our dedicated U.S. elevators and segregated transportation and logistics capabilities, we are in a position to supply all of our existing customers in Europe with soybean meal and oil once new rules go into effect at the end of this year.”
Jon Turney, president of EMEA oilseeds at ADM, added: “Although industry continues to await final implementation guidance from the European Commission on the EU deforestation regulations’ requirements, this programme will ensure we can continue to give US farmers the choice and the opportunity to add value by supplying global markets, while meeting our customers’ needs through ADM’s fully segregated and dedicated supply chain.”
Farm businesses and buying groups can contact ADM representatives for further pricing information.
Current market
Chicago soya bean futures have fallen by 8% since the beginning of the month and closed at $329.61/t (£284/t) on 16 July.
HiPro soya bean meal was quoted at £360/t by AHDB for July, down by £15/t on the week.