Technically Speaking: IP webinars target Southeast Asia where U.S. exports remain steady, strong

By Hoa Huynh, SSGA technical adviser, Southeast Asia

Between February and August, the Specialty Soya and Grains alliance, in coordination with USDA Foreign Agricultural Service offices in Manila, Jakarta, Hanoi, Bangkok and Kuala Lumpur, successfully organized five virtual, educational seminars on U.S. Identity Preserved soybeans and specialty grains. Approximately 320 food manufacturers and importers representing the Philippines, Indonesia, Vietnam, Thailand and Malaysia participated in the seminars.

U.S. soybeans and soya products exported to Southeast Asia have continued strong growth in recent years, according to USDA data. During the period of October 2020 to May 2021, U.S. soybeans and soymeal exports to the region increased by $548.4 million or 37.9% and $241.5 million or 33.3%, respectively. In addition, U.S. corn exports also experienced healthy growth during the same period, from $53.2 million to $179.2 million or 236.8%. In comparison to the October-May 2020/2021 period, U.S. agriculture and related products to the region increased by 10.25% to $10.7 billion.

Indonesia is the most populous Southeast Asian country by far and is the largest market in the region for U.S. soybeans and soya products, which totaled $1.03 billion, an increase of 90% in the first seven month of MY21 (October-September) compared to the same period of MY20. The Philippines and Vietnam, however, have been the fastest-growing markets for the United States in recent years. The U.S. is the largest food supplier to the Philippines, providing about one-quarter of total food imports. Meanwhile, U.S. exports to Vietnam have increased tenfold in the last decade.

Southeast Asia has had the fastest growth in U.S. agricultural sales of any region in recent years. Strong economic growth and increasing demand for high-value products have been major drivers of this increase, and these trends are expected to remain relatively steady to make Southeast Asia an attractive destination for U.S. exports in the future, particularly with continuing efforts to educate about U.S. IP soybeans and specialty grains to Southeast Asian food manufacturers.

Technically Speaking is an SSGA feature that includes news and information from SSGA’s IP technical advisers for North Asia (Alyson Segawa), Southeast Asia (Hoa Huynh) and Europe (Eugene Philhower). Please reach out to them via email. They want to hear from SSGA members!