The study, funded by the United Soybean Board (USB), shows the European Union's Renewable Energy Directive, which currently excludes biodiesel made from US soybean oil in renewable energy quotas, could decrease US soybean prices by as much as 35 cents per bushel. If left unresolved, the regulation would cost US soybean farmers more than US$1.1 billion (€837 million) per year.
The checkoff contends the policy unfairly singles out biodiesel made from US soy. USB Immediate Past Chair Marc Curtis says the checkoff continues to work with the American Soybean Association (ASA) on efforts to gain inclusion for biodiesel made from US soy.
“The EU is the second-largest market for US soybeans, and that market is at risk due to this regulation,” says Curtis, a soybean farmer from Leland, Miss. “We can use this study to show allied organisations and the US government how much of an impact this regulation would have on US soybean farmers. It will also give the US government facts to demonstrate to the European Commission that the regulation needs to be based on sound science.” Read more ...
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| Soybean fields |
“The EU is the second-largest market for US soybeans, and that market is at risk due to this regulation,” says Curtis, a soybean farmer from Leland, Miss. “We can use this study to show allied organisations and the US government how much of an impact this regulation would have on US soybean farmers. It will also give the US government facts to demonstrate to the European Commission that the regulation needs to be based on sound science.” Read more ...
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