HIGH VALUE VARIETIES AND GROWING MARKET DEMAND FUEL IP SOYBEAN RESURGENCE:
PROFITABLE GROWER CONTRACTS AND RETURN OF GOOD GROWING CONDITIONS LEAD TO
RENEWED OPTIMISM
September 18, 2003
NutriLine Press Release
Stayner, ON. - A combination of new high value varieties, profitable grower
contracts, increasing end-use demand and a return to good growing conditions
is fueling a resurgence in identity preserved (IP) soybean markets, say
industry stakeholders.
Growers who gathered today at a NutriLine® brand grower day near Stayner,
Ontario, greeted the news with enthusiasm as representatives from First Line
Seeds, NutriLine and Maple Leaf Foods International discussed new marketing
opportunities for 2004 and reviewed considerations for the upcoming harvest.
"IP soybean production reached record levels in the late 1990s, but
challenging growing conditions in 2001 and 2002 and a recovering Asian
economy impacted IP acreage," says First Line Seeds president Peter Hannam.
The return of good Ontario growing conditions and a stronger Asian economy
has helped rekindle interest in IP soybean production.
"We're very optimistic about the IP market because the varieties we produce
provide a lot of value to end-users," says Hannam. "End users demand high
quality, reliability and end use traits that can help them produce better
products such as a smoother soymilk or better tasting tofu. With new high
value varieties, production excellence and the return of favourable growing
conditions, we're well positioned to deliver the needs of end-users," says
Hannam.
Robert Hunter, manager of Maple Leaf Foods International's Signature Series
program, says: "we're definitely seeing a soyfood market that's growing.
Buyers continue to demand quality, reliability and they remain cost
conscious, but Maple Leaf Foods International sees some great opportunities
for growers."
Ontario is a great place to produce quality IP soybeans, says Hunter. "As
we continue to deliver higher quality to end users and enhanced production
efficiency we'll continue to build our customer relationships and that will
provide new opportunities for Ontario growers," he adds.
For Guy Goheen, who hosted today's grower event at his farm, growing
identity preserved soybeans comes down to dollars and cents. "On our farm we
pencil out the premiums, yield potential and management requirements and
then evaluate the opportunity. NutriLine provides great opportunities for
us," says Goheen.
For 2004, NutriLine will offer contracts for six new varieties for identity
preserved production. "We're excited to have several new varieties along
with increased acreage of other high value varieties," says Hannam. "At
First Line, we've invested heavily in food soybean breeding and research and
these new NutriLine varieties will provide new opportunities in the natto,
soymilk and tofu markets."