High oleic soybean oil: a growing domestic market
The demand for high oleic soybean oil is growing, opening up another domestic market for US soybean producers.
Illinois farmer Doug Winter with the United Soybean Board tells Brownfield the number of processing locations are increasing, and several major food chains are interested in the product.
“The oil has a lot of health benefits as far as higher oligosaccharide acids and the omega 3 content in it. Chefs and restaurant owners like it because it does a better job of frying and it has a shelf life about half the length of what most of the cooking oils are now.”
Winter says the beans have the same genetics as other soybean varieties, with an added high oleic trait, so they can be sold as generic soybeans or as high oleic soybeans for an average 50 cents per bushel premium.
He says when you consider world trade situations, it is important to continue developing domestic markets.
“So that we’ve always got some sort of constant market that figures into our profitability equation.”
Winter says farmers can learn more about high oleic varieties and find local processors at soyinnovation.com.
Brownfield interviewed Winter at the Farm Progress Show in Decatur, Illinois.