Record Value of U.S. Soy Exports in 2012-13
(NAFB)--During the 2012-13 marketing year - the U.S. exported 1.7-billion bushels of soy to customers around the world.
The value of these exports comes to a record of more than 28-billion dollars - a 19-percent increase from 2011-12. According to the U.S. Census Bureau - the total includes more than 1.3-billion bushels of whole U.S. soybeans, meal from 454-million bushels of U.S. soybeans and oil from 186-million bushels. That represents 56-percent of U.S. soybean production from last year. United Soybean Board Farmer-Leader Jared Hagert says the reliability and quality of the U.S. soy supply are just a few reasons customers keep buying U.S. soybeans, meal and oil. He says the 2012-13 export numbers prove U.S. soybean farmers are continuing to meet the needs of their customers. According to USB - soy exports for the 2013-14 marketing year are off to a good start - with 87-percent of the total 2014 export forecasts already sold.
Top buyers of whole U.S. soybeans in 2013 include China (772-million bushels), Mexico (98-million bushels) and Japan (63-million bushels). Top buyers of U.S. soybean meal in 2013 include Mexico (meal from 59-million bushels), the Philippines (meal from 47-million bushels) and Canada (meal from 43-million bushels). Top buyers of U.S. soybean oil in 2013 include China (oil from 37-million bushels), Mexico (oil from 35-million bushels) and India (oil from 21-million bushels).