September 9, 2014
Russia increasing soybean demand
Russia's soybean demand is growing steadily due to investment in the domestic poultry and swine industries and growth in the industry's crushing capacity.
According to the US Census Bureau, from January to June this year, soybean exports from the US to Russiahave increased nearly six-fold by volume and more than seven-fold by value on-year.
Russian Customs Service data shows that soybeans from the US reached 393,000 tonnes from September 2013 to April 2014. By comparison, exports of US soybeans to Russia were 272,161 million tonnes for the entire year in 2013.
The US Soybean Export Council (USSEC) activities in Russia are focused on trade servicing and technical assistance to local crushers, feed millers, and poultry and livestock producers. Training includes feed formulation, best management practices, and purchasing skills. As a result of USSEC's training, feed quality and productivity has improved and customers understand the benefits of using US soy.