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ASA: Trans fat decision means opportunity

The government’s phase-out of trans fats in processed foods has further opened opportunities for soybean growers.

High-oleic soybeans have no trans fats and Wade Cowan, president of the American Soybean Association, says high oleics can replace partially hydrogenated oils which DO contain trans fats.

He tells Brownfield Ag News, U.S. growers want to meet the high demand but they are being slowed down when it comes to foreign markets,“Basically, it’s not the fact that farmers don’t want to grow high oleic, it’s all been the fact that we just can’t seem to get the overseas approvals. So, the market disruptions are another big factor in this and we need to get that cleaned up so that we can move on to this high oleic oil.”

Cowan says high oleic beans are a great domestic option for the domestic food industry. About 200-thousand acres have been produced so far and Pioneer and Monsanto are continuing to develop high oleic varieties.

But, he says, U.S. farmers won’t benefit right away, “The beneficiaries of this, basically, right now are probably going to be some of the imported oils like palm oil and companies will turn to that as they replace soybean oil. So, it hurts us as a producer in that we lose more of the oil market – that food oil market that we’ve continually seen decline.” Cowan says the ASA will continue to work to improve foreign markets for high oleic soybeans during the three-year phase out.