11-man US trade team here to reclaim lost share of local soybean market

Posted on: Sat, 12/05/2009 - 10:01 — mwidboom

11-man US trade team here to reclaim lost share of local soybean market By Marianne V. Go (The Philippine Star) Updated December 04, 2009 12:00 AM MANILA, Philippines - An 11-man US trade team is in town to try and regain its foothold in the Philippine soybean meal market. The US previously dominated the Philippine soybean meal market, but has gradually lost the market to cheaper Argentinian imports. The visiting US trade team composed of soybean farmers, state soybean board officials, shipping agents and traders arrived yesterday for a five-day visit to promote US soybean meal use with local poultry and hog farms. The visiting US team will hold discussions with feedmillers and farm operators. The visiting team is led by Glen Heitritter, a top level official of Ag Processing Inc., one of the biggest US agricultural cooperatives and the leading soybean meal exporters. The visiting soybean meal trade team is also exploring other agricultural products, such as corn and DDGS, which it can export to the Philippines. The other members of the team are Wayne Fredderick and Sheila Hebensteit of Iowa Soybean Association; Matt Widboom and Bob Nelsen, Minnesota Soybean Growers Association; Gregory Hames Greving of Nebraska Soybean Board; Peter Mishek of Mishek and Associates; Robert Bruenn of Maritime 24, a shipping company; and Marie Marte, Gonzalo Marte Jr. and Mariel Marte of MC Marte Enterprises which is coordinating the trade team’s activities in the Philippines. The US once supplied 65 percent of the Philippines’ 1.5-million metric ton soybean meal import. But with a smaller import volume this year (of only 1,110,284 MT) as an offshoot of a lower animal population decimated by diseases and a series of destructive typhoons, the US share has dwindled to only 26 percent or 291,676 MT. Argentina, on the other hand, has now capturedi 69 percent of the market equivalent to 771,137 MT. India supplies about four percent or 40,689 MT, while Brazil accounts for one percent or 6,782 MT. Soybean meal provides the protein component in animal feeds, Soybean mean normally comprises 20 percent to 25 percent of the feed formula. Corn which takes up 50 percent to 60 percent of the feed formula provides the carbohydrate component of the feed. Minerals, fibers, vitamins and ensymes provide the balance of the feed’s formulation. The Philippines produces around 7.5 million metric tons of animal feed annually.