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The global marketplace is changing every day, and U.S. soybean farmers have to stay ahead with marketing strategies to build demand and preference for U.S. soy abroad. The farmer-leaders of the United Soybean Board (USB) and American Soybean Association (ASA) are working together to determine those strategies to best leverage checkoff dollars. The farmer-leaders met last week for the 2007 U.S. Soy Industry Strategic Planning Conference in Chicago to discuss future international marketing efforts.

A new marketing plan was approved that will focus international marketing efforts on a product-based strategy, diverging from past efforts, which had been concentrated on marketing to specific countries or geographical regions. During the conference, board members also began the process of allocating funds for these international market development programs. This new product-based approach will be implemented in fiscal year 2009.

“This new approach to international marketing will allow us to better position U.S. soy overseas,” says Terry Ecker, USB International Marketing chair and soybean farmer from Elmo, Mo. “By focusing on developing markets for different product segments of U.S. soybeans, we will be able to more accurately identify the specific needs of international buyers and then respond accordingly by allocating checkoff funds to meet these needs.”

The new product-based marketing strategy will be broken down into three categories: commodity soy, value-enhanced soy and global issues management.

The commodity soy marketing category will consist of overseas customers who are interested in buying bulk amounts of U.S. soybeans for use in things such as aquaculture or livestock and poultry production. The value-enhanced category will focus marketing efforts on customers interested in U.S. soybeans that have been produced to have superior traits.

The global issues marketing category will focus on gaining market access for products that are not yet accepted in certain markets. This will be accomplished through continuing to develop relationships with foreign countries to highlight the benefits of buying U.S. soybeans. Global issues such as sustainability, biotech acceptance and transportation issues will also be addressed through this new marketing category.

“This new strategy will hopefully provide a greater return on investment for U.S. soybean farmers,” says Ecker. “This new product-oriented focus will enable marketing efforts to focus on promoting U.S. soy products, not just soybeans in general. This focus will increase the value of U.S. soybeans in foreign countries as opposed to just increasing the volume of soybeans used.”

USB is made up of 64 farmer-directors who oversee the investments of the soybean checkoff on behalf of all U.S. soybean farmers. Checkoff funds are invested in the areas of animal utilization, human utilization, industrial utilization, industry relations, market access and supply. As stipulated in the Soybean Promotion, Research and Customer Information Act, USDA’s Agricultural Marketing Service has oversight responsibilities for USB and the soybean checkoff.

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