News: Event followup
A diversified team of Moroccan delegates representing the feed, poultry, dairy, and oil industries attended the 5th U.S. Soy Regional Trade Exchange –European Union (EU) / Middle East – North African (MENA) held in Lisbon, Portugal from February 8 -10.
Representatives from the leading poultry integrators, the largest feed mill, a dairy cooperative, and a vegetable oil refiner had the opportunity to meet other professional buyers from the greater region, along with traders and U.S. suppliers. This year’s edition of the trade exchange welcomed a number of attendees from several markets with great success, partially attributed to the high level and quality of all participants including customers, experts, USSEC and grower leaders’ representatives, that help to protect U.S. Soy’s market share in Morocco.
The Moroccan team’s participation in USSEC events reflects the importance of the U.S. as a major supplier of high quality soybeans and soy products. USSEC teams, consultants, and staff assisted professionals to learn more about the organization, the U.S. Soy value chain, and its world position.
The main factors impacting demand for U.S. Soy as a key ingredient in animal feed were among the issues discussed during interactions between suppliers and buyers.
Morocco has been able to maintain its place in the top ten U.S. Soy export markets for soybean meal and soy oil and remains the leading consumer of U.S. Soy products in the MENA region with a soybean meal market estimated at over 600,000 tons. Its imports include U.S. soybean meal, hulls, oil, and beans adding up to a total bean equivalent of nearly 600,000 tons per year.
Poultry remains the main market driver with about 19 kilograms (kg) of poultry meat consumed per capita and an average annual growth of 5 to 7 percent through modern structured emerging integrations.
USSEC continues to support animal industries in Morocco through targeted programs strengthening the U.S. as a major supplier of high-quality soybeans and products, highlighting the strength and intrinsic advantages of the whole soybean value chain. All team members had a higher understanding of soybean meal differentiation based on origin.
The 5th regional Europe Union / Middle East – North Africa (EU/MENA) Soy Trade Exchange was held in Lisbon, Portugal, gathering almost 180 participants from roughly 40 countries.
The opening speeches and conference materials reminded the audience that soy products are the number one U.S. agricultural exports valued at over $20 billion with nearly 60 percent of total U.S. soybean production exported last year. Europe, the Middle East, and North Africa largely contributed to this export success. The U.S. Soy industry appreciates the partnership with the countries and companies represented in the audience.
The conference covered a number of topics that highlighted the developments and challenges central to the international and local soy markets and agricultural landscape. Major industry experts and senior trade representatives from Europe and MENA, including northeast Europe, attended the event and addressed many key topics. The participants showed real interest in learning about the latest developments in the soy markets, risk management, sustainability and quality.
In addition, the planned social and networking activities provided ample opportunities to develop and strengthen the relationships between the customers and key members of the U.S. soybean industry and explore real business opportunities.
Among the audience, USSEC had six customers representing leading commodity trading companies and feed compounders in the northeast European sub region who enjoyed the professional sessions and the whole conference.
Agnieszka Kotarska of Glencore-Poland said, “Thank you, USSEC, for having us at this highly professional and super interesting event. I am sure my Polish and Hungarian colleagues agree with me that the firsthand information gathered here and personal contact with many experts and industry members from the U.S., Europe, and other countries will be beneficial in our work in the months to come. We think it was a great event!”
These customers also valued the organizers providing all the presentations to them after the conference, calling it “unique” in the convention business.
USSEC staff and local regional consultants also held the event in high regard. USSEC Technical Director for Northeast Europe Jerzy Kosieradzki stated, “It was probably the best of all of the regional trade conference we had ever had in Europe/MENA Region. The presentations on soy markets and macroeconomic perspective were especially valuable and considered first class.”
The Lisbon Trade Exchange also confirmed that the earlier strategic decision made in the hosting region to reduce USSEC’s Europe/MENA customers presence at the U.S. Soy Global Trade Exchanges, while focusing instead on the regional buyers’ conferences every second year and clearly targeted team trips to the U.S., was a good decision.
USSEC attended the 2017 Commodity Classic, “Farmer Up!,” from March 2-4 in San Antonio, Texas. The Commodity Classic is generally regarded as the largest farmer-led and farmer-focused convention and trade show in the U.S. The convention provides opportunities for growers, member associations, agribusinesses, and media to scope out new products and connect with each other.
In addition to hosting a booth, USSEC also hosted a reception prior to the ASA banquet on Friday evening. About 85 people attended the U.S. Soy Family Gathering. Attendees included U.S. Soy grower leaders along with leadership from Qualified State Soybean Boards (QSSBs), ASA, and USB.
“The reception provided a good opportunity for the U.S. Soy family to meet and network before the ASA banquet,” said USSEC Stakeholder Relations Manager Will McNair.
USSEC held its board meeting on February 28 in San Antonio, Texas.
The board of directors discussed issues pertinent to the U.S. Soy industry, before listening to a review and adjustment of strategy, given by USSEC Chief Program Officer Ed Beaman.
In addition to his CEO report, USSEC CEO Jim Sutter provided an update on internally managed funds (IMF) funded projects. USSEC Communications Manager Lisa Humphreys provided an update on the content marketing strategy, including the re-launch of USSOY.org.
The board also covered public and operational policy, hearing reports from each committee: executive, audit & budget, membership/industry relations, and governance.
On March 1, the USSEC executive committee also had joint meetings with both the American Soybean Association (ASA) and United Soybean Board (USB) executive committees.