Pulse Atlas Data in Focus/
What’s driving the steady increase in Norway’s faba bean imports?

Exclusive Pulse Atlas Data shows a steadily increasing trend in Norway’s faba bean imports in the last five year. Jumping from just 56 thousand MT in 2019 to 220 thousand in 2022, the trend seems to be continuing into 2023, with import volumes for the first six months sitting at 66 thousand MT and expected to continue rising.

The Pulse Atlas: Faba bean numbers

• The main import origins for faba into Norway in 2022 were (in order) France, the UK, the Netherlands, Denmark and Lithuania. 
• In 2023, the UK has taken the spot of top exporter to Norway followed by Denmark, the Netherlands, France and Lithuania.  
• UK faba production for 2023 was around 650 thousand MT, down from last year’s 700 thousand MT. 
  

Insider Insights

Andy Bury, Pulse Manager, Frontier Ag   

• “This is all part of the very big and positive story about consistent demand for European or locally-grown protein. Firstly, fabas in aquafood are primarily used as a binder. The beans themselves are not suitable with the outside skin on because they are too high in fiber, so all fabas that go to aqua are dehulled. Once you take the outside skin off, you reduce the fiber and increase by definition the protein from 23% to about 28%. Also, faba beans without the skin are much stickier, making them a better binder than wheat.” 

• “The increase in imports into Norway in the last couple of years is a result of all animal feed manufacturers trying to reduce their reliance on soya. It is still a big feature in aquafeed, as dehulled faba at 28% protein is nothing like soymeal at more than 40%. However, the consumer is increasing the pressure to reduce the reliance on imported South American or US soya.”

• “The price differential between wheat and faba has reduced. If fabas are too expensive, buyers will go back to wheat. Problems with the wheat crop in Europe last year meant the premium for 14% baltic wheat, which is the alternative, rose very high and so the price differential made faba look even more interesting and increased the demand. That's very switchable so it won’t stay like that forever, especially if we have a good wheat harvest again in Europe.”