‘IP B2B’ connects SSGA member exporters to Thailand

By Shane Frederick, SSGA communications manager 

Twenty percent of soybeans imported to Thailand are used for food and soymilk and 65% of those beans come from the United States. In 2020, U.S. soybean imports rose 27% to $1.6 billion (4 metric tons). 

With a young population and a growing middle class with more disposable income, “there’s a huge opportunity for specialty soya and grains,” said Eric S. Mullis, agricultural attaché and acting counselor for USDA Foreign Agriculture Service in Bangkok. 

Mullis explained during the Specialty Soya and Grains Alliance’s Identity Preserved (IP) virtual seminar and “IP B2B” for Thailand that the southeast Asian country is seeing increasing demand for healthier and more-functional foods, the ingredients of which can be found in IP field crops from the U.S. 

Mullis delivered opening remarks on June 14, the first day of the event, and gave a market update to start the June 15 webinar. 

Thailand is the 15th-largest market for U.S. agriculture, valued at around $1.9 billion. The United States is Thailand’s third-largest supplier of ag products behind China and Brazil. Overall, bilateral trade between the two countries totaled $6 billion in 2020. 

More than 40 people each night logged on to the Zoom meetings during the two-day event. The group included U.S. processors and exporters, Thai food manufacturers and importers, staff from SSGA and Spire Research and Consulting and a group of intrepid interpreters who drew great praise from attendees for the work they did in both the main presentation session and the individual business-to-business breakout rooms. 

Presentations, moderated by SSGA IP Technical Adviser Hoa Huynh on Day 1 and SSGA market development project manager Lee Steinhauer on Day 2, also included presentations from: 

• Bob Sinner, SSGA Chair and President of SB&B Foods, on buying Identity Preserved field crops from the U.S. 

• Sakchai Preechajarn, USSEC’s in-country representative for Thailand, on U.S. Soy sustainability initiatives 
• Nick Sinner, program manager for Northern Crops Institute, on NCI educational courses 
• Raquel Hansen, SSGA board director and Minnesota farmer, on Identity Preserved being the “value that adds value” 

For the IP B2B portion of the event, U.S. suppliers and Thai buyers were matched for short Zoom meetings based on company profiles.  

SSGA will hold another virtual seminar and IP B2B event for Malaysia on Aug. 9-10 (rescheduled from June 28-20) and is planning another for China to be held at a later date.