USSEC Endorses Mexican Soy Oil as it Enters Canadian Market
USSEC recently provided information and support to Mexican agribusiness RAGASA, the second largest soybean crusher in Mexico. RAGASA crushes approximately 900,000 metric tons (MT) of U.S. soybeans annually. The company attended the SIAL Trade Show in Toronto, Canada from April 30-May 2 as it begins marketing its soy products in Canada. Its premier brand of soy oil, Nutrioli, is 100% soy oil made from 100% U.S. soybeans. Nutrioli owns the largest market share for this particular type of oil and is already being sold in all American Wal-Mart stores, in Costa Rica and in other Central American countries. Potential vendor Wal-Mart (Canada) asked for and received reassurance that USSEC supported the marketing of RAGASA products. RAGASA has registered its products for sale in Canada, has successfully agreed to terms on pricing and presentation with Wal-Mart and expects to begin shipping to those stores within the next two to three months.
USSEC’s continued support of the export of U.S. soy into new markets is critical. Canada has emerged as a market with a strong potential for the import of U.S. soy products as that country’s soy market grew from $150 million in 1996 to approximately $350 million recently.