The Sustainable Trade Initiative (IDH) published the latest edition of European Soy Monitor, a report that provides insights on developments and figures in the soy market in 2019. The data covers FEFAC compliant soy, certified deforestation-free soy, low-deforestation risk soy and soybean meal available for domestic consumption. It bridges the gap between 2018 and 2020, as the organization will publish the 2020 report by the end of this year.
Soy is among the most crucial commodities regarding its potential impact on both the social and environmental agendas. IDH is working closely with its public and private partners in the soy sector to create transformation towards more sustainable production patterns.
This 2019 update shows an overall increase in uptake of FEFAC compliant and conversion-free soy, but also a decrease in some countries. Overall, more action is needed from the different supply chain actors to increase the uptake of responsible soy in the European market, the report stated.
The report also provides recommendations for the main supply chain actors such as feed companies, traders, food companies and retailers. These recommendations include making use of the Accountability Framework to specify the no-deforestation commitment, ensure commitments are translated into time-bound purchase requirements, align with the National Soy Initiatives to make an impact at scale and mention IDH’s Urgency of Action report launched in 2020.
Download the report below.