SE Asia Trade Mission Participates in U.S. Soy Global Trade Exchange; Over $90 Million of U.S. Agricultural Products Transacted
- General News
The recent Southeast Asia Trade Mission, organized by USSEC, consisted of 35 executives representing 30 countries including Thailand, Vietnam, Indonesia, Singapore, Philippines and Myanmar. Companies such as integrated food processors, oilseed crushers, livestock raisers, livestock feed producers, soy food manufacturers and local trading companies were represented. The goal of this mission was to highlight the value of U.S. agricultural products, promote the U.S. as the one-point ag-solution provider to international customers, and deliver U.S. Soy’s Total Quality promise.
During the ten day mission, the trade team toured grain export facilities in the Washington State, visited with Minnesota soybean growers and inspected the soybean crop in parts of Minnesota, before joining over 200 representatives from 40 different countries at the highlight of this mission: the U.S. Soy Global Trade Exchange in Davenport, Iowa. Co-located with the 10th Annual Midwest Specialty Grains/Grain Export Shipping Conference & Trade Show, the U.S. Soy Global Trade Exchange featured two days of meetings and presentations, facility and river tours, as well as private meetings with U.S. exporters for introductions, market discussions and the exploration of business opportunities.
Based on written evaluations received from trade team members, the overall experience of this year’s trade mission has been extremely positive. As with every mission since its 2008 inception, actual trades and business have been negotiated and concluded. This year, an estimated value of almost $98 million worth of approximately 155,000 metric tons of soybeans, 30,000 metric tons of soybean meal, 10,000 metric tons of corn, 25,000 metric tons of dried distiller grains with solubles (DDGS), and 5,000 metric tons of wheat were transacted by the trade team at the event.
This program is funded by and under the auspices of the United Soybean Board, the American Soybean Association and the U.S. Department of Agriculture. Key contributors to this mission include: AG Processing; Bunge North America; Columbia Grain, Minnesota Soybean Research & Promotion Council; North Dakota Soybean Council; South Dakota Soybean Research & Promotion Council; Midwest Shippers Association; and Iowa Soybean Association.