Increase U.S. soy exports and U.S. market share of the worldwide export market from 1 billion to 1.5 billion bushels by the year 2005. Through efforts like the Preferred Customer Program, the soybean checkoff has been extremely effective at increasing export markets in Southeast Asia, Europe, the Middle East and Latin America. This program educates end users on the benefits of U.S. soy through technical assistance, seminars, distribution of technical publications, feeding demonstrations and more. The growing Chinese aquaculture market illustrates just how efficient the checkoff has been at expanding international markets. As a result of checkoff-funded efforts targeting this market, China imported 191 million bushels of U.S. soybeans last year.
China is now the largest international consumer of U.S. soybeans.
The Chinese aquaculture industry's demand for soy continues to grow, with 2000 projections at 176.5 million bushels and 2002 projections at 240.9 million. Farmer-leaders of the soybean checkoff develop marketing plans and objectives, which are then funded jointly by the checkoff, state soybean checkoffs and the Foreign Agricultural Service. This farmer-driven effort has helped U.S. soybean farmers capture 77 percent of China's soybean import market.