EU Soymeal Usage Falling Says Oil World

EU usage of soymeal in animal feed rations is set to fall sharply as feed manufacturers look to cut costs and turn to cheaper raw materials according to Oil World.

"We now forecast EU soymeal consumption at around 34.3 million tonnes in 2008/09, down steeply by 2.3 million tonnes from a year ago," it said.

Adding that, "significant changes are shaping up in the feed mix in the European Union. A major driving factor is to be seen in the ample supplies of more attractively prices feed grains relative to oilmeals."

One such raw material is rapemeal. EU rapeseed crushing rose by a "stunning" 21 percent on the year in September 2008 to 1.86 million tonnes, said Oil World.

Meanwhile EU September 2008 soybean crushings fell to 1.15 million tonnes from 1.23 million tonnes in September 2007, it said.