The American Soybean Association (ASA) announces another record year for U.S. soybean exports. On August 31, the end of 2001/02 Marketing Year, the U.S. Department of Agriculture reported that accumulated U.S. soybean exports reached 29.9 million metric tons (mmt), the equivalent of more than 1.1 billion bushels (bu), up 86.6 million bushels from last year, an increase of 8.5 percent. This is the third year in a row that soybean exports have exceeded export levels in the previous year.

[NOTE: USDA later revised 2002 exports down to 28.44 mmt, 1,024 mil. bu.; and 2001 exports at 28.92 mmt, 1,063 mil bu.]

"About 40 percent of the total 2001 U.S. soybean crop was exported as whole soybeans," said ASA President Dwain Ford, a soybean producer from Kinmundy, Illinois. "Soybeans greatly contribute to the U.S. balance of trade because soybean and soy product exports are the highest value U.S. agricultural commodity export with an annual value of nearly $7 billion."

ASA's activities to promote U.S. soybean exports are credited with influencing customer preferences for soy product usage in animal feed, cooking oil, and soyfoods. Through its network of 10 overseas offices, ASA manages the world’s only international soy market development program that is responsible for promoting U.S. soy exports to more than 80 countries.

These activities are made possible by producer checkoff dollars invested by the United Soybean Board and various State Soybean Councils, as well as cost-share funding provided by USDA’s Foreign Agricultural Service. These funding sources authorized about $24 million for ASA’s export promotion activities during 2001/02.

"ASA extends thanks to all U.S. soybean producers for their continued support of the national soybean producer checkoff program," Ford said. "Checkoff dollars are the critical component that ASA leverages with USDA’s Market Access Program (MAP) and Foreign Market Development (FMD) cooperator funding to make possible ASA’s export development programs."

In spite of the controversy surrounding biotech-enhanced products in some European countries, U.S. soybean exports to the European Union (EU), the largest combined market for U.S. soybean exports, exceeded 7.7 million metric tons/285 million bushels. That’s 34 million bushels more than last year, an increase of 13.5 percent more U.S. soybeans exported to the EU.

In fact, during Marketing Year 2001/02, U.S. soybean exports increased in nearly all major market areas except China, where new import regulations brought about a decline in exports of 42 mil. bu. or 20 percent.

Fortunately, exports to the Western Hemisphere more than made up for the loss in China. Exports to these customers, (which includes Mexico, Canada, Colombia, Costa Rica, Barbados, Ecuador, Venezuela, Trinidad, and for the first time in 40 years sales to Cuba), totaled more than 217 mil. bu., up 55.7 mil. bu., an increase of 34.4 percent. Exports were up 6 percent to Japan and Korea, and up 7 percent to Taiwan, all longstanding customers for U.S. soybeans.

ASA currently operates foreign offices in Mexico City, Mexico; Brussels, Belgium; Istanbul, Turkey; Moscow, Russia; New Delhi, India; Tokyo, Japan; Taipei, Taiwan; Beijing, China; Seoul, Korea; and the Republic of Singapore. ASA has been promoting U.S. soybean and soy product exports since 1956.

"The efforts of the American Soybean Association are building demand for U.S. soybeans and soybean products while helping to improve the lives of millions of people around the world with quality cooking oil, healthy soyfoods and high protein animal feeds," Ford said. "ASA extends thanks to all of our international customers for their purchases of U.S. soybeans during this record setting year."