Global soybean consumption is expected to continue to rise in the next decade, with a worldwide requirement of an extra 70-80 million tonnes mainly due to changing diets driving protein demand for animal feed in China. However, opportunities for pulse growers will exist closer to home, said PGRO chief executive, Salvador Potter.
He suggested that with soybean prices at between £250-£500 per tonne, compounders in Europe were being forced to look for more local sources of protein in order to fulfil demand.
"Feed has been a significant market this year for beans, as soya prices have remained high, and EU demand for protein peas will increase as policy shifts away from soya import dependence," he said.
