Soybean producers have developed a new set of international marketing strategies to increase both their share of export markets and the value of U.S. soy exports.
The move comes as competition for global marketshare grows more intense and as lower U.S. soybean production in 2002 and decreased soybean planting projections for the next several years threaten the ability of U.S. soybean producers to produce record export numbers in the future.
“We have just approved a new checkoff-developed international marketing plan that includes three major strategies. The emphasis placed on each strategy will depend on the market,” said Criss Davis, United Soybean Board international marketing chair and a soybean farmer from Shullsburg, Wis.
“For example, a strategy we use to grow demand and marketshare in a country like China may be different from the strategy used to increase exports to European countries.”
According to Davis, one of the main strategies in the new plan is to build demand for U.S. soybeans in those markets where the United States can be a stronger competitor. That requires determining whether or not the United States is already a dominant supplier in a market, how fast the market is growing, the value of the specific market segment, the market's population and whether or not there is ample consumer income in the market to afford U.S. soy products.