MANKATO, MN – When relationships remain stagnant, so does business. To nurture relations and expand market opportunities for northern-grown soy, Northern Soy Marketing (NSM) is heading to Thailand March 24-28.
“Relationships are the cornerstone of NSM’s mission,” said NSM Director Patrick O’Leary, who will attend the trade mission. “Trade missions are critical to building and growing our relationships with international stakeholders. When we put in the effort to visit them and tour their operations, it shows that we care and builds the rapport that leads to sales.”
As Southeast Asia’s second largest economy, Thailand is a major importer of soymeal, importing 4.9 million metric tons in marketing year 2023. Because Thailand relies on imported soybeans, covering about 99 percent of its use in animal feed, vegetable oils and food, it is an ideal market opportunity for U.S. soybeans leaving the country via the Pacific Northwest (PNW).
“NSM is heavily focused on Southeast Asia’s market potential for northern-grown soy,” said NSM Executive Director Gary Williams. “Soy destined for export from PNW ports is consistent and high-quality. While in Thailand, we will continue to reiterate that message.”
While in country, NSM will bring its soy quality messaging, emphasizing the importance of considering critical essential amino acid content rather than crude protein as the true measure of soy quality. Though Thailand’s government mandates a minimum crude protein content requirement in animal feed formulations, there is still abundant opportunity for NSM to promote soy grown in its member states – Minnesota, South Dakota and Wisconsin.
“U.S. soybean farmers have redefined the measure of soy quality,” said O’Leary, who farms in Minnesota. “Thailand’s soy market still uses crude protein-based pricing and so it’s critical that we continue having conversations with stakeholders about the benefits of considering critical essential amino acids.”
