USSEC on trade with China and opportunities in Egypt
Trade officials say progress is being made in US-China trade talks. U.S. Soybean Export Council (USSEC) CEO Jim Sutter says this is good news for U.S. soybean growers.
“US soybean farmers have been investing in China now for 38 years and it took 13 years before the first sales were made and it’s been building ever since,” he says. “So, that’s a market we don’t want to lose.”
But he tells Brownfield the U.S. is also focused on expanding markets in other countries.
Sutter says demand for US soybeans in Egypt continues to grow, which is why USSEC is launching a soybean excellence center there.
“Sort of a virtual learning center that we’re doing in partnership with the poultry association of Egypt, the world fish organization, and Cairo University to provide a place where we can bring in global experts on poultry nutrition, aquaculture, feed milling, how to use soy in human diets and a place for people from Egypt and the region to have learning opportunities,” he says.
Egypt imported more than 3 million tons of US soybeans in 2018 and is forecast to import 4 million tons in 2019.
Audio: Jim Sutter, U.S. Soybean Export Council