As FY16 begins, USSEC takes a look back at FY15.
USSEC, which celebrated its 10^th anniversary in 2015, has seen its goals evolve to effectively conduct its role of building an international preference and demand for U.S. Soy by developing and maintaining relationships through trade and technical services and taking steps to ensure market access.
The trade services that USSEC provides to its customers around the world help to facilitate and ease trade along with building strong relationships between buyers and sellers. The annual U.S. Soy Global Trade Exchange is a prime example of relationship building. USSEC also provides technical services in each of its six regions to build buyer awareness in the value of U.S. Soy.
Developing and maintaining market access is a critical strategy for USSEC. Sustainability and biotechnology create different issues for the U.S. Soy industry and USSEC worked in FY15 to minimize related potential trade barriers while maximizing the competitive advantage of U.S. Soy. The U.S. Soybean Sustainability Assurance Protocol (SSAP) continued to play a key role in providing a competitive advantage over soy from other origins. The decision earlier this year by the Dutch Feed Association, NEVEDI, to accept the SSAP as a certification process for sustainability was a critical milestone for continued U.S. Soy exports to the EU. USSEC has also applied for Renewable Energy Directive (RED) in Europe, along with developing numerous tactics to help build confidence in the Chinese market over biotech safety. Additionally, USSEC has participated in the International Oilseed Producers Dialogue (IOPD) and the International Soybean Growers Alliance (ISGA).
And in FY15, an independent study on international marketing proved just how important USSEC’s endeavors are to the U.S. Soy industry. According to the study, for every dollar U.S. soybean farmers invest in marketing their soybeans outside the U.S., they significantly boost their profitability.
Exports and building demand continue to be key to the U.S. Soy industry in FY16. USSEC’s mission will continue as the organization works to maximize the use of U.S. Soy internationally by meeting the needs of its stakeholders and global customers.