The Iowa Soybean Association is currently leading a trade mission in north Africa with trips to Egypt and Morocco designed to promote U.S. soy and build relationships and customer preference.
ISA President Randy Miller joined the Iowa Agribusiness Radio Network from Casablanca Morocco to explain the importance of the trip.
Egypt is the third most populous country in Africa and U.S. soy is responsible for 80% of the market share at nearly $2B in annual sales. Morocco is a top 10 export market for U.S. soybean meal but the country also imports whole soybeans, soy hulls, and soybean oil. Miller says both countries are big importers of U.S. soy.
Miller says that while both Egypt and Morocco are well established export destinations for U.S. soy the markets are still growing especially in the area of aquaculture using soy meal as a fish food.
Miller says that while trips like this are designed to build relationships and customer preference for U.S. soy, the quality of U.S. soy production does a lot of the hard work.
The U.S. Soybean Export Council established soy excellence centers in Egypt in 2019 to increase demand for U.S. soy among buyers and livestock, poultry, and fish producers. The centers help with training and education says Miller.
Randy Miller says that a trip such as this can put into focus the importance of soy checkoff dollars and how they help to drive demand.
Other Iowa Soybean Association members on the North African trade mission include Suzanne Shirbroun (president-elect), Kirk Leeds (CEO) and Aaron Putze (Sr. Director Communications). The group will return to the United States on Thursday March 30th.
