WISHH is leveraging insights from new USDA-supported market assessments to guide its USB-funded Mobilizing Entrepreneurs to Expand U.S. Soy Utilization in Developing and Emerging Markets initiative in Africa. USDA-Foreign Agricultural Service funds supported WISHH conducting market assessments in three African countries: Burkina Faso, Kenya and Togo.
Key findings include:
- 100 % of the companies that participated in the market assessment have a positive impression of U.S. soy products, but they have limited or no experience using U.S. soy.
- 100 % of the feed mill managers said they need imported soybeans to supplement local soybean production.
- Foods derived from biotechnology do not require import approval.
- Solid potential to serve as a hub for regional U.S. soy efforts in West Africa due to proximity to major markets, supply routes to neighboring landlocked countries, and existing port facilities.
- Reliance on costly prepared animal feed underscores the potential for soymeal.
- The U.S. and Kenya in February 2020 announced plans to negotiate a Free Trade Agreement (FTA), which would be the U.S.’ first FTA with a sub-Saharan African country.
- Lack of easy financing options and affordable commercial credit facility for investors has led to an under-developed soybean crushing industry.
WISHH’s USB-funded Mobilizing Entrepreneurs to Expand U.S. Soy Utilization in Developing and Emerging Markets works to compress the time for a new U.S. soybean market to go from emerging market entry to basic market ready. The initiative attracts and mentors entrepreneurs who can invest in developing and emerging market soy enterprises, bringing new market sectors into the U.S. soy market pipeline.
Photo caption: WISHH’s USDA-funded market assessment in Burkina Faso found that 100 % of the surveyed companies have a positive impression of U.S. soy products, but they have limited or no experience using U.S. soy.