Minnesota Soybean Leaders to Focus on Expanding Opportunities with Trade Mission to Vietnam

State's Soybean Growers a Leader in Outreach to Southeast Asian Nation

News provided by

Minnesota Soybean Research & Promotion Council

Mar 15, 2016, 07:00 ET

MANKATO, Minn., March 15, 2016 /PRNewswire/ -- Representatives of the Minnesota Soybean Research and Promotion Council (MSR&PC) look to grow the state's number one agricultural export as they depart today on a 10 day trade mission to Vietnam, one of the most rapidly growing feed and livestock markets in Southeast Asia.

The checkoff investment in the Vietnamese market is not new to the state's soybean farmers; MSR&PC began its outreach in Vietnam in 1986, working with the U.S. Soybean Export Council to open an office in Hanoi.

This infographic shows Minnesota soybean exports, by the numbers. Half of Minnesota's soybean crop is shipped internationally each year, making soybeans the state's number one agricultural export.

"We've worked very diligently over the years to build opportunities for Minnesota soybeans in this up-and-coming market," said Keith Schrader, chair of the Minnesota Soybean Research and Promotion Council. "This trade mission will strengthen relationships with our current customers, as well as identifying potential customers in Vietnam."

According to the U.S. Department of Agriculture (USDA), Vietnam is one of the fastest-growing markets for U.S. food and agricultural products, with U.S. exports there totaling
$2.2 billion in fiscal year 2014. Vietnam is now the United States' 11th-largest agricultural export market, with top products including cotton, dairy, soybeans, and tree nuts.

The trip's agenda includes visits to a feed mill and crushing plant, swine and poultry farms, and a look at a progressive container port and bulk cargo deep water seaport.

"We want our farmers to see firsthand the checkoff investments we've made in Vietnam," said Schrader. "These efforts will continue to positively impact the economy of Minnesota."

Soybeans are a $3.1 billion industry in Minnesota, with agriculture being the second largest employer in the state. For more information, please visit https://mnsoybean.org/msrpc/

ABOUT MINNESOTA SOYBEAN RESEARCH & PROMOTION COUNCIL:
The Minnesota Soybean Research & Promotion Council (MSR&PC) is the elected board of soybean producers from Minnesota who direct investments of the state's checkoff dollars in program designed to increase profitability to Minnesota soybean farmers.

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SOURCE Minnesota Soybean Research & Promotion Council