Growing soy export opportunities
The chairman of the US Soybean Export Council says diversifying soy export opportunities is key to maintaining robust trade.
Stan Born an Illinois farmer says more effort is being spent on developing markets outside of China and India. “Any place where there is a growing population, young populations, or urbanization that’s happening,” he says. “And growing economies where people are moving their diets from carbohydrate-based diets to eating meat and having a protein-based diet.” Born says some of those markets include Thailand and other Southeast Asian countries, Nigeria, and Egypt.
He tells Brownfield nearly 10% of all soy exported goes into aquaculture. “It’s very efficient and it’s very cost-effective,” he says. “People can afford fish and makes it easily accessible for people who need protein. Depending on the species, they can use a lot of soybean meal in the fish food, up to 40%.”
While there are efforts to build demand in other areas, Born says the U.S. still maintains significant trade with key international markets like China, Mexico, Vietnam, and Ecuador.
Brownfield interviewed Born during the recent National Association of Farm Broadcasting’s Trade Talk.
AUDIO: Stan Born, US Soybean Export Council