Although Croatia is on the verge of entering the European Union on July 1, the new regulation that would allow or regulate the import of genetically modified soybean meal has not yet been adopted. It is well known that EU member states are allowed to import and market genetically modified soybeans, and they are required to declare it simultaneously.
According to current information, a new ship carrying soybean meal has been bypassing the port of Rijeka for the second consecutive month due to unchanged legal regulations.
At the same time, a ship with approximately 60,000 tons of soybean meal has been unloaded at the port of Koper, and the next one is expected in mid-July.
Due to all of the above, the supply of domestic consumers and producers with soybean meal will continue from the Slovenian port. This way, smuggling of genetically modified soybean meal will still be enabled, making it even harder to determine which goods are legally permitted.
It will also be possible to customs-clear goods at any port within the European Union.
On the global grain market, prices are constantly rising, and the price of soybean meal has increased by approximately 35 USD/ton in the past few days, amounting to 39 USD/ton.
Premiums for genetically modified goods are also continuing to rise, exceeding 220 USD/ton depending on the month of delivery. Therefore, today the price of soybean meal on the Chicago Mercantile Exchange for immediate delivery is approximately 4.50 HRK/kg + VAT.
High prices are a result of poor soybean growth in America, so it is expected that this price level will be maintained throughout July and August. In the eastern corn belt, soybean crops are so delayed that experts estimate it will take up to two months to achieve the previous average.
We are facing a difficult period with high prices and a shortage of GMO-free soybean meal, which we will have to import from the port of Koper.
