USSEC Discusses Ways to Boost Soybean Trade in Africa
By Ahmed Rahma
In order to strengthen trade with the African continent and discuss partnership opportunities to build demand for United States soy, the US Soybean Export Council (USSEC), the American Soybean Association’s World Initiative for Soy in Human Health (ASA/WISHH) and the US Grains Council (USGC) co-hosted the African Trade Exchange.
The two-day virtual conference took place on November 9 and 10, showcasing globally renowned and highly regarded speakers on the international grain trade, the future of the African feed industry and long-term commercial trade development.
In general, nearly 300 US Soy customers and soy industry representatives from more than 30 countries registered, giving room for participants to access sessions on-demand following the event.
Sub-Saharan Africa is currently the sixth-largest destination of the US feed and grain exports, with Nigeria being the largest destination within the region.
According to the USDA, soybean and soybean meal feed use in the region are projected to increase by 59 per cent and 35 per cent, respectively, until 2029. These numbers represent an opportunity for boosted demand of the US Soy.
According to USSEC CEO, Mr Jim Sutter, stated that, “Africa continues to be a region that holds tremendous potential. It is a great example of where we see a future for the US Soy and our goal is to expand engagement with customers and remain a consistent supplier to this region.”
“This virtual conference is more evidence of our long-term commitment to the African region in partnership with WISHH and USGC and our optimism on building long-term relationships,” Mr Sutter added.
Earlier this year, a new comprehensive study reinforced the US Soy’s reputation as a global leader in nutrient density and economic value. A meta-analysis of eighteen different studies with 1,944 samples quantified the relationship between the country of origin of the bean and the chemical composition and nutritive value of the soybean meal.
The analysis proves that the US soybean meal not only has an advantage relative to higher sucrose levels, an excellent amino acid profile, higher digestibility, increased metabolisable energy and lower fibre content (when compared to other origins) but it also has a price advantage. All of which can be beneficial to the sub-Saharan Africa region.
“The need for a high-quality protein product like U.S. soybean meal will be vital as this region’s population continues to grow,” said Chairman of USSEC, board member of the American Soybean Association and soybean farmer in Valley City, N.D, Monte Peterson.
“Our farmers are prepared to meet this need and show how the US Soy delivers proven, consistent quality, reliability and value to earn its role as a trusted partner around the globe.”
The conference also provided an exclusive networking opportunity for USSEC and USGC members to engage importers through the US Grain and Soy Spotlight.