The marketplace is ready, but end users need supply
After testing high oleic soybean oil in their fried and baked foods, chefs say they’re impressed with the oil’s performance. But farmers have to provide a consistent supply of the high-functioning oil before big food companies will make the leap.
More U.S. soybean farmers are responding to meet that demand. In 2016, farmers are expected to harvest more than 450,000 acres of high oleic soybeans – nearly double last year’s numbers. Nebraska and Kansas farmers planted high oleic soybeans for the first time this year, and the varieties are available in more states each planting season.
Every successful high oleic crop proves to customers that the soybean industry is willing and able to provide a consistent supply of high oleic soybean oil.
“This is an opportunity to take a look at what we can do to help the soybean industry grow,” says Kevin Wilson, who grows high oleic and commodity soybeans on his farm in Walton, Indiana.
Wilson recently planted high oleic varieties for the fourth time.
“We started with a small number of acres, and each year we have added 100 to 200 acres,” he says. “This year, we planted half our acres to high oleic.”
The soy checkoff, in cooperation with Pioneer and Monsanto, has set a goal to double high oleic acreage again next year. Looking ahead, the checkoff’s goal is for farmers to plant 18 million acres by 2023. Ambitious industry goals mean it’s even more important for farmers to show potential customers that farmers can meet their demand.
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