U.S. Soybean Export Council looks to leave people hungry for more

KANSAS CITY, Mo. — The U.S. Soybean Export Council wants to leave people hungry for more — hungry for more U.S. soy products, that is.

Kimberly Atkins is the director of strategic partnerships for the U.S. Soybean Export Council. Speaking on Wednesday, Nov. 13, at the National Association of Farm Broadcasters annual convention, Atkins said the Soybean Export Council has been working hard to set U.S. soy products apart and have them be preferred compared to other nation's soybean products. Through elevating the preference for U.S. soy, the council then hopes to capitalize on preference and attain market access. The council is active in over 80 different countries, working to talk about U.S. soy as a sustainable solution with high quality, nutritional aspects.

More than 50% of U.S. soy is exported to China, with the U.S. soy industry relying heavily upon that market. But, industry is working on expanding markets and looking for emerging markets as well.

"China is an important market, and we need to maintain access to that market, but we are really focused on expanding opportunities for U.S. soy around the world. We're seeing a lot of growth opportunities in places like southeast Asia and Latin America," Atkins said.

With more than 60% of U.S. soy being exported, it is vital to keep trade open for soybean farmers in order for them to remain profitable on their operations. Atkins said with regard to China specifically, the " Phase One" agreement in the first Trump administration was very positive movement for U.S. soy.

Then-president Trump and China Vice Premier Liu He signed the Phase One agreement Jan. 15, 2020. The agreement called for ramping up Chinese purchases of agricultural products from the U.S., and under the agreement, China agreed to buy $40 billion to $50 billion worth of agricultural commodities. However, China did not live up to those purchases .

"We look forward to working with the new administration to talk about the importance for free and fair trade for U.S. agriculture in general," Atkins said. "U.S. soy is the No. 1 agricultural export for the United States."

Domestically, there has been an increase in crush capacity within the United States , giving farmers another avenue for their crop. With more crush capacity, more soybean meal has been available for export. Atkins believes this has been a great growing opportunity for the industry, coming off a record year for soybean meal exports, which was led by purchases by the Philippines.

According to Atkins, partnerships are of the utmost importance when maintaining and growing the U.S. soybean industry.

"It really takes all of us working together as well as working together with our other export partners to increase export of U.S. soy globally," she said.