Northern Soy Marketing (NSM) is set to embark on a trade mission to Thailand from March 24-28, targeting expanded market opportunities for northern-grown soybeans in Southeast Asia.
NSM Director Patrick O'Leary emphasized the importance of relationship-building: "Trade missions are critical to growing our relationships with international stakeholders. When we visit and tour their operations, it shows we care and builds the rapport that leads to sales."
Thailand presents a promising market, importing 4.9 million metric tons of soymeal in the 2023 marketing year. The country relies on imported soybeans for approximately 99% of its animal feed, vegetable oils, and food production.
Executive Director Gary Williams highlighted the strategic focus: "NSM is heavily concentrated on Southeast Asia's market potential for northern-grown soy. Soy destined for export from Pacific Northwest ports is consistent and high-quality."
The mission will emphasize a nuanced approach to soy quality, challenging traditional protein content measurements. O'Leary noted, "U.S. soybean farmers have redefined the measure of soy quality. Thailand's soy market still uses crude protein-based pricing, so it's critical we continue conversations about the benefits of critical essential amino acids."
Key objectives include:
- Promoting soy from Minnesota, South Dakota, and Wisconsin
- Demonstrating the superiority of essential amino acid content
- Building long-term international relationships
Despite Thailand's government mandating minimum crude protein content in animal feed, NSM sees significant opportunity to educate and expand market presence.
The trade mission underscores the organization's commitment to international market development and agricultural innovation.
