According to a study by the Soybean Producers and Distributors Association ISL, Brazil will increase the cultivation of non-GMO soybeans in crop season 22/23. The plant areas of this commodity in Brazil in crop year 22/23 is expected to reach nearly 1 million hectares, up 24% from 793,000 hectares in crop year 21/22.
The reason for the promotion of non-GMO soybean cultivation is due to the increasing demand for non-GMO soybeans in European feed production, which has pushed the price of this commodity to higher levels. .
In the scenario of tight supply of natural soybeans in the world, importers from Europe are willing to pay an additional 11 USD / 60kg bag for the additions.
Previously, India was a major supplier of non-GMO soybeans to Europe. However, at the present time, the country has had to close its borders to control the pandemic situation.