US soybean growers eye expansion in Philippines
-A A +ATuesday, December 7, 2010
MANILA -- The largest farmer-owned soybean processor in the world is planning to expand its share in the Philippine market on the back of continued growth of the country’s feed-milling industry.
AG Processors (AGP), the leading soybean meal supplier to the country, will be sending a 15-man delegation of American farmers and traders to explore a possible export facility outside Port of Grey’s Harbor in Aberdeen, Washington.
The move is aimed at beefing up its capability to serve the Pacific Rim countries including the Philippines. MCM Enterprises is the country representative of AGP.
Industry experts believed that this year’s imports may exceed 1.6 million tons due to higher feed demand from the pork and poultry sector.
The Philippines imported 1.5 million metric tons of soybean meal (the product remaining after extracting the oil from whole soybeans) in 2009 with US soybean meal taking a 35-percent market share. (Virgil Lopez/Sunnex)
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