This Week in U.S. Soy Market Development

May 17, 2019

While several key U.S. trade relationships hang in the balance and tensions mount,  is actively working to grow new markets for U.S. soy worldwide. Just this week, grower-leaders and partners participated in five events bringing together current and potential customers representing significant demand from 30 countries around the world. Here’s what they’re working on:

  • Thailand: The 2019 U.S. Soy Asia Trade Exchange event provides a vital opportunity to connect more than 300 Southeast Asia and Asia Subcontinent purchasers with U.S. exporters and grower leaders. Guests attend presentations and panels focusing on the quality of the U.S. soy crop, global soy protein outlook, sustainable production, and transportation. U.S. soy crushers and buyers also learn about key research, markets, crop quality, consumers’ views on sustainability, and the overall U.S. Soy Advantage.
  • Nigeria: USSEC visited for the first time this week, discussing the value and potential of U.S. soy, while building relationships with current and potential customers. In these markets, soy consumption is currently very low with vast potential. USSEC has new emphasis on these future, evolving markets, which typically have large populations, growing economies, and very low protein consumption.
  • Japan & Taiwan: As part of USSEC’s “What it Takes” strategy to keep U.S. soy exports at the same approximate 60 percent level regardless of the loss of the China market, USSEC has held “Experience Today’s U.S. Soy Advantage” conferences in a number of markets. This week, two of these conferences were held in Japan and Taiwan. In these mature markets, work focuses on promoting the sustainability component of the U.S. Soy Advantage, maintaining relationships with long-term buyers, shaping market access issues and the acceptance of technology like gene editing and biotechnology.