USSEC Conducts 8th Grain Transportation Conference in Malaysia
- General News
USSEC Southeast Asia conducted its 8th Grain Transportation Conference (GTC) in Kuala Lumpur in from March 31-April 2 with 124 participants in attendance representing regional feed and livestock companies; soy processors; soy food and beverage manufacturers; commodity traders and exporters; international shipping companies and global logistics providers. The U.S. Ambassador to Malaysia, Joseph Yun, opened the program and American Soybean Association (ASA) president Ray Gaesser welcomed participants. USSEC chairman and Kentucky soybean farmer Randy Mann provided an overview of U.S. soy planting. Jim Call, USB Chairman and Minnesota soybean farmer, also participated.
The agenda focused on commodity market updates, global supply and demand outlooks and transportation logistics overviews, all in line with the conference theme “Global Food and Agriculture: Vision 2021.” Funding for this year’s event was provided by the South Dakota Soybean Research and Promotion Council. Patron sponsorship was provided by several states, which are currently funding USSEC country representation in the Philippines, Indonesia, Vietnam and Thailand. Sponsoring organizations are the Kentucky Soybean Board, the Minnesota Soybean Research and Promotion Council and the Tennessee Soybean Promotion Board.
The annual Grain Transportation Conference provides the regional industry with a timely mid-year outlook as harvests in the southern hemisphere draw to a close, and planting begins in the growing areas of the northern hemisphere. It is a time when global commodity prices fluctuate widely with weather events, and buyers are looking well into the future to ensure their grain and soy requirements are covered. Exporters in attendance included Trans Coastal Supply, DeLong Company, SunOpta, Ceres Commodities, Toepfer, Agrex Asia, CHS, Bunge, Cargill and Glencore. The US Grains Council was a co-organizer of the program.
Based on written feedback submitted by 70 participants, the event was generally well received and over half a million metric tons (MT) US agricultural products valued at around U.S. $200 million were negotiated on and transacted at the conference. U.S. soybeans and soybean meal trades accounted for around 250,000 and 100,000 MT respectively.