Industry teamwork grows oil business for soybean farmers
When industry leaders unite to achieve a common goal, big things happen. Take for example high oleic soybeans, on which suppliers, farmers and buyers have come together to create big opportunities for the whole industry, from farmers to consumers.
Monsanto and DuPont Pioneer – companies often in competition – work with the soy checkoff and other members of the value chain to strengthen the market for high oleic soybeans. As a result, farmers continue to see strong performance from these varieties in their fields and more customers are choosing high oleic soybean oil for its performance in their kitchens, packaged foods and industrial applications.
“High oleic soy is an exciting innovation,” says Russ Sanders, director of food and industry markets at DuPont Pioneer. “It takes unprecedented teamwork to convert a major part of the industry to this technology.”
Research supported by the checkoff adds confidence that the oil will perform in their applications.
“Food companies want high oleic soybean oil because it lasts longer and has the nutritional profile they’re looking for,” says Sarah Vacek, soy quality traits manager for Monsanto.
Farmers choose high oleic because it’s in demand and it performs in their fields. In fact, the seed companies expect to see 450,000 acres planted in 2016, which doubles last year’s numbers.
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