Complete Story
04/06/2010
2008-2009 Ohio Soybean Exports Soar to Record Numbers
Contact: Jamie Butts
Ohio Soybean Council
614.476.3100
jbutts@soyohio.org
NEWS RELEASE
April 6, 2010
2008-2009 Ohio soybean exports soar to record numbers
WORTHINGTON, Ohio – The Ohio Soybean Council (OSC) announced that the 2008-2009-harvest year proved to be the largest on record for whole soybean exports, reaching 1.24 billion bushels - 10 percent higher than the previous year. This number exceeds the total number of bushels produced in Ohio, Iowa, Illinois and Missouri combined.
OSC and the soybean checkoff are helping Ohio soybean producers and Ohio’s economy benefit from increasing soybean demand in global markets. Export numbers directly reflect the importance of OSC’s efforts to Ohio’s soybean farmers.
“Export demand has been one of the major drivers of soybean prices,” said Kirk Merritt, OSC executive director. “Ohio’s soybean farmers certainly benefit from international demand, so it’s very important to maintain and even increase that demand so that we can ensure continued success.”
Every year, approximately half of the U.S. soybean crop is exported to buyers in markets such as Asia, Europe and Latin America. China, the largest export market for whole soybeans, accounts for approximately 23 percent (686 million bushels) of all U.S. soybean exports, which is a 40-percent increase from last year.
“These numbers are a testament to the fact that we are competing in a global marketplace,” said Keith Kemp, OSC chairman. “We understand and appreciate the important role international demand plays, and we are working to increase opportunities in these markets.”
OSC, in cooperation with the Ohio Department of Development, operates an office in Shanghai, China, to help support the marketing efforts overseas and position Ohio soybeans as a premium commodity. This office has created new relationships with international customers.
“China is simply hungry for U.S. soybeans, and all of the signs point to continued growth in that demand for many years to come,” said Merritt.
Mexico is the second-largest export market for whole soybeans, importing 113 million bushels and Japan is the third-largest market, importing 88 million bushels.
While whole soybeans represent the majority of U.S. soybean exports, soybean meal and soybean oil also contribute. The total number of soybean exports, including whole soybeans, soybean meal and soybean oil is 1.56 billion bushels, more than half of all U.S. soybean production.
The two largest markets for soybean meal are Mexico and Canada, importing roughly 103 million bushels. Soybean oil’s two largest markets are India and Mexico, which import 886,000 metric tons.
The U.S. Department of Agriculture estimates that Ohio’s exports of soybeans and soybean products throughout an 11-year period (1998-2008) added nearly $6 billion to the state’s economy, making soybeans Ohio’s top agricultural export.
As part of OSC’s overall international marketing plan, OSC manages a proactive portfolio of export promotion projects. These marketing efforts have resulted in:
- Collaboration with the U.S. Soybean Export Council to market U.S. soybeans to buyers around the world.
- Participation in international business-development missions and market-education trips to Japan, China, Israel, Argentina, Paraguay and India.
- Marketing Ohio-grown food-grade soybeans in southeast Asian markets such as Japan, Taiwan, Korea, Vietnam, Indonesia, Thailand, the Philippines, Singapore and Malaysia
- Promotion of exports of American livestock and poultry - Ohio soybeans’ top customers - to buyers in Asia and Mexico, in partnership with the U.S. Meat Export Federation and the U.S.A. Poultry and Egg Export Council
- Promotion of increased consumption of soybeans in developing countries in Africa, Latin America and Asia by means of supporting of the World Initiative for Soy in Human Health
Because of these outstanding international marketing efforts, OSC recently received its third Governor’s Excellence in Exporting Award. This award recognizes companies and organizations of all sizes that have shown superior performance in exporting or that have demonstrated heightened awareness of exporting as a vital component of the state's economy.
About the Ohio Soybean Council
Headquartered in Worthington, the Ohio Soybean Council is governed by a 17-member volunteer farmer board, which directs the Soybean Promotion and Research Program. The program's primary goal is to improve soybean profitability by targeting research and development projects using the investment of farmer-contributed funds. For more information: www.soyohio.org.
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