Nigeria

US grains stakeholders eye Africa market

US grains stakeholders plan to capture Africa market
US grains stakeholders plan to capture Africa market
Soyabeans

By Jimoh Babatunde

The Senior Director of Global Strategies for the United State Grains Council, USGC, Kurt Shultz, has disclosed that providing technical, economic and logistical assistance is at the heart of the U.S. Grains Council’s long-term strategy in Africa, where the United Nations estimates demand for meat, milk and eggs will quadruple by 2050s.

He disclosed this recently during the African Trade Exchange, co-hosted by theU.S. Soybean Export Council (USSEC), the American Soybean Association’s World Initiative for Soy in Human Health (ASA/WISHH) and the U.S. Grains Council (USGC) .

He added, “Events like the African Trade Exchange are also an important part of our plan to solidify and build relationships in the region.”

Also speaking during the virtual meeting, theU.S. Soybean Export Council, USSEC’s Regional Director for South Asia and sub-Saharan Africa, Kevin Roepke, said “Identifying new and growing markets in sub-Saharan Africa is part of the long-term strategy to build a strong pipeline of demand for U.S. soy.

“The population of this region exceeds 1 billion people, with predictions to double by 2050, making it one of the most substantial frontier markets in the entire world.”

He added “Holding virtual meetings like the African Trade Exchange, will help us grow and sustain these markets where there is significant future potential due to factors such as large populations, improving economic conditions and low protein consumption.”

Attendees had the opportunity to learn more about the processes of securing credit, hedging risk, formulating rations and many other facets of the international soy and feed grain supply chain.

Other topics included: the state of the West African market, a U.S. Soy industry spotlight, aquafeed production, animal feed production and industrial feed compounding.

One of the attendees, Dr Ayoola Oduntan, Managing Director of Amo Farms in Nigeria, spoke about the demand for protein in the region, during a panel on the state of the West African Market.

“There is a definite demand for protein. Now, it’s very clear that animal protein can’t do it alone. First of all, we use a lot of soybeans in animal feed space. Soy has become the protein source of choice in animal feed.

“To meet the rising demand for animal protein, we have to consume a lot of soybeans. Also, there is an effort to increase human consumption of soybeans to augment what is consumed through the animal proteins. We have realized that the need for us to continue to grow this space has led to a significantly higher demand for maize and soybeans.”

Vanguardngr.com

Football news:

Klopp on refusing to lead Manchester United: In Liverpool, even the weather is better than in Manchester! I'm in my place
Ramos will not move to PSG after his contract with Real Madrid expires. Between the clubs - a gentleman's agreement
Sergi Busquets: Messi is the best in the world. With him, Barca's chances of winning the Super Cup are higher
Arthur would have chosen Ronaldo as captain over Messi: both are good leaders. But with Cristiano we play together
Zidane is not counting on Odriosola. Defender can leave Real Madrid on loan
16 years ago, Rooney scored the first goal at Anfield, and a fan threw a Nokia at him and lost his season ticket
Ernesto Valverde: I was incredibly lucky to coach Barca. It is clear that everything depends on the results