Sharing the bounty of U.S. Soy worldwide
U.S. grown soybeans provide high-quality products domestically that have a large impact beyond farm gates. In the states, U.S. Soy can be found in products from animal feed and vegetable oil to renewable fuels. Outside the U.S., exported soybeans provide solutions to customers throughout the global supply chain in many of the same sectors.
Many regions across the globe have diverse uses for soy, creating opportunities for U.S. Soy to affect billions of lives. Regions such as the Middle East, North Africa and Europe drive demand for soy as a key ingredient in animal feeds, while places like Southeast Asia and the Americas use soy as a feed ingredient in their aquaculture industry. In Northeast Asia, U.S. Soy can be found in food and beverages. As populations grow, South Asia and China continue to demand soy for a range of protein sources, and an increased demand for protein in Sub-Saharan Africa is leading growth in that region, as well.
U.S. Soy is positioned to serve the growing global market and the soybean checkoff is helping to deliver on those solutions. U.S. Soy supports global vitality by meeting nutritional needs, supporting progress in global communities and by providing products that enhance quality of life.
From the Elevator to the River
In the 2021/22 marketing year, U.S. Soy set a record for the value exported to international markets at $40.42 billion. In this marketing year, 58.74 MMT of soybeans were exported as whole beans, alone. As meat, poultry and aquaculture production grow in varying regions across the globe, increased interest in processing their own soybeans grows. In fact, some countries have switched from importing soybean meal to whole soybeans with that growth. One such example is Egypt.
Egypt’s climb to the third largest importer of U.S. Soy is remarkable, but its cause is no secret. The booming chicken and aquaculture industries are leading the way for more soy to be crushed in the region. Egypt’s recent switch from primarily imported U.S. soybean meal to whole soybeans has opened opportunities for U.S. Soy to do training in the region, as well.
Meeting Specific Needs in a Region
While the bulk of U.S. Soy is shipped whole to its destination, certain countries need to have products already processed and ready for use.
Customers in the Philippines lead the export market as the #1 importer of U.S. soybean meal, and prefer eating fresh poultry and pork. Food companies in the region must meet that demand with domestically raised meat, rather than importing U.S. raised meat that would need to be frozen to travel to the island country. Food security is of high importance for the Filipino government, creating an opportunity for U.S. Soy to provide soybean meal for animal feed.
U.S. Soy, through the checkoff, has worked to create a preference for U.S. soybean meal within the Filipino animal industry. The relationship leads to higher exports for U.S. Soy and increased food security within the Philippines, making the relationship work for both parties.
Recognizing Soy Oil’s Diverse Use
Much like U.S. customers, countries around the world have found use for soybean oil in food, industrial and fuel applications. When demand for oil within a country outpaces its domestic production ability, it can lean on the U.S. to provide oil to meet its needs.
Korea’s food industry has distinct preferences on how it uses imported U.S. soybean oil versus its own domestic production and use of palm oil. Hotels, restaurants and institutions heavily rely on imported soybean oil, while locally processed soybean oil is generally for home use.
Korea’s rise as the number one oil market for U.S. Soy oil was due to increased biodiesel production, something that increased the country’s overall need for vegetable oil. Korea uses both soybean oil and palm oil in its biodiesel production, which has led to significant increases in demand for all vegetable oils.
Soybean oil exports are a great way to highlight the value of U.S. Soy to customers and continue to build U.S. Soy’s reputation as a consistent supplier of quality soybean products.
When looking at U.S. soybean exports, consideration is also given to the U.S. Soy fed animals then exported as finished meat products.
U.S. Soy plays an important role in animal diets both globally and domestically. It adds protein in the animals’ diets, which turns into high-quality, nutritious protein foods for human consumption.
Continuing to Bring Soy To the World
Through USSEC, soybean farmers help deliver education and marketing efforts to a wide range of U.S. Soy customers. U.S.-grown soybeans and soybean products have a global impact in 82 countries and the demand is only growing, providing more and more opportunities to deliver high-quality soybeans across the global marketplace.