American Soybean Association to Congress: Continue Investing in Nation

The Foreign Market Development program is important to U.S. soybean farmers and the American economy. American Soybean Association First Vice President Danny Murphy says funding for the program – along with the Market Access program – is a top priority for ASA in the 2013 ag appropriations bill that the House will consider in the coming weeks…

“Those programs amount to about $234 million, and they are really critical to US soybeans. Nearly 60% of US soybeans are exported, and these program help insure that we do a good job of marketing those soybeans and that we continue to open those markets up, and to build soybean exports.”
 

ASA has been a cooperator under the FMD program since 1956 and cites today’s market for U.S. soybeans in Japan and China as the program’s success stories…

“We opened an office in Japan, at that time they were only importing a few US soybeans, but we realized what the potential might be there since soy food is a big part of their culture…been working there 56 years this year, and it’s the third largest market for us.
 

We’ll be celebrating our 30th anniversary in China this year. The work we did there in the pork and poultry industry and also in aquaculture. Fresh water fish wasn’t much of an industry then, and it certainly wasn’t using any soybean meal, and today it’s one of the fastest growing segments of our soybean industry. China imports 12.5 billion of soybeans today, so that’s a huge success story for the FMD and MAP programs and for US soybean growers.”
 

Murphy says the Foreign Market Development program helps keep U.S. agricultural exports strong – supporting nearly one million American jobs…

“US ag exports total nearly $140 billion and we have several studies that show there is nearly 8,400 jobs created for every $1 billion in exports. So, this is really an investment to make sure that those ag exports continue to grow and it really benefits the whole US economy.”

Murphy says soybean farmers have been the first to say cuts need to be made fiscally in Washington – and they understand living within their means – but he says farmers also understand investment. To Murphy – funding for these programs is investing in America’s future and long-term growth. He says it’s important to continue the programs and to build those markets so the economy continues to grow.
 


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