Increasing Soy DemandMarch 8, 2018 8:00am
Demand for increased supply and intensified marketing efforts were two recurrent themes during Soy Canada‘s successful trade mission to Taiwan and Japan from February 26th to March 2nd.
The mission marked Soy Canada‘s first visit to Taiwan, where imports of Canadian non-GM and commodity soybeans combined have increased by 416 percent since 2012.
Approximately 46,000 tonnes of Canadian soybeans were shipped to Taiwan in 2017 when Canada achieved a 60% market share in non-GM soybeans.
Japan consistently remains one of the Canadian soybean sector‘s top export markets, particularly for non-GM soybeans. Last year, over 340,000 tonnes of soybeans at a value exceeding $260 million were exported to Japan.
“It was clear from each of the importing organizations we met with in both markets that Canada is viewed as a preferred supplier of high-quality soybeans,” said Ron Davidson, Soy Canada‘s Executive Director. “The feedback received from importers and end-use manufacturers highlighted the importance of, first, ensuring a reliable supply of high quality soybeans and, second, increasing Canadian presence in the markets. In turn, the Canadian delegation emphasized the significance of timely adoption by end-users of new, higher-yielding varieties.”
The Soy Canada delegation included representatives of producer organizations, nine exporters, the Canadian Grain Commission, and the Canadian Agri-Food Policy Institute. The mission was supported under the Growing Forward II Agri-Marketing Program.
“We heard the need to continue delivering an assured supply of high quality non-GM Identity Preserved soybeans and to intensify the frequency of engagement with our valued clients,” said Jim Millington, Soy Canada‘s Director of Market Development. “Japan and Taiwan continue to have a good image of Canada and they are generally satisfied with the level of assurance delivered from Canadian exporters.”