U.S. Soy Stakeholders Learn More About Growing Worldwide Potential for U.S. Soy at USSEC’s Learning Session
USSEC leadership provided a primer on international marketing strategy for U.S. Soy at a learning session on March 2 during the annual Commodity Classic event.
Jim Sutter, USSEC CEO; Derek Haigwood, USSEC chairman; Paul Burke, USSEC Senior Director – U.S. Soy Marketing; and Ed Beaman, USSEC Senior Director – Basic Market Development and Regional Director – Asia Subcontinent discussed how USSEC is working on behalf of U.S. farmers to explore and develop new international markets for U.S. Soy and safeguard profitability in a challenging global environment.
Chairman Haigwood welcomed attendees and introduced the other speakers.
Mr. Sutter explained that USSEC “works to protect the profitability of American soybean farmers” by “implementing its refreshed international marketing strategy and market access activities to main relationships and solve problems.”
2017 was the second consecutive year that U.S. soybean exports exceeded 60 percent of the total crop, said Mr. Sutter, and explained how USSEC’s efforts complement the efforts of its members. He provided information about USSEC’s long-term programs, referring to “impressive growth” in soybean meal consumption in the Asia Subcontinent before explaining how basic markets such as ASC have the most room to grow. USSEC will help to speed this demand growth and by 2021, USSEC will shift 40 percent of its investments here. U.S. Soy focuses on the four areas of animal agriculture, aquaculture, human consumption, and sustainability.
Mr. Burke stated he was “proud and honored to represent [U.S. farmers] in this effort to market U.S. Soy, before talking about specific ways that USSEC differentiates and creates preference for U.S. soy while assuring market access.
Mr. Beaman said that the U.S. soy industry is playing offense in new markets with global opportunities, saying “we’re lucky we have the best soy product in the world.”
The session wrapped up with a Q & A session. Topics discussed were specific new markets and trade, among others.