Hoeven: EU to Accept U.S. Soybeans for Biofuel Production
WASHINGTON – Senator John Hoeven today issued the following statement after the European Union (EU) Commission approved the use of U.S. soybeans for the production of biofuels. The Commission began advancing the approval following last year’s meeting between President Trump and EU Commission President Jean-Claude Juncker. The decision will remain in effect until July 1, 2021, but may be extended should the U.S. meet additional requirements. U.S. exports of soybeans to the EU have more than doubled compared to the previous market year, with the U.S. maintaining a 75 percent share in the EU soybean market.
“North Dakota has long demonstrated the benefits of adding value to the tremendous production of our farmers to provide affordable, renewable energy, and the EU’s decision reflects this reality,” Hoeven said. “We appreciate the administration’s continued progress on securing better trade deals. Today’s decision will bring vital market access for our state and nation’s farmers.”
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