bill allison, soybean producer september 15, 2005 from cooking oil to car seats changes in soy...
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Bill Allison, Soybean ProducerSeptember 15, 2005
From Cooking oil to Car seatsChanges in Soy Utilization and Opportunities for Halton Region
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Soybeans in Canada
• Ontario grows over 80% of the Canadian production
• Soybean is the most economically important and prominent crop in Ontario
• Climate, skill, and experience of the industry result in soybeans of the highest quality
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2004 Ontario soybean statistics
Area harvested
(acres)
Average
Yield (bu/ac)
Production ('000 bushels)
Production('000 tonnes)
Ontario 2,300,000 39.6 91,000 2,476.6
Halton Region
22,700
(0.9%)
33.0 740
(0.8%)
20.1
(0.8%)
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Soybean distribution
• About 1/3 of production is exported• Remainder are commodity beans for crushing
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Specialty soybeans
• Exported beans and those for traditional food uses are produced according to very specific standards of Identity Preservation (IP)
• In IP, Canada is recognized as the world leader based on our superior:– Farm management– Handling infrastructure– Soybean breeding and development program
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Commodity soybeans
• Beans that remain in Canada are typically crushed to produce meal and oil
• Demand for a protein source for livestock actually requires meal to be imported
• Oil is typically used in food, and is the prominent vegetable oil in North America
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Changing the status quo
• Depressed prices for commodity beans
• Industry looking for new uses and opportunities to add value domestically
0
20
40
60
80
100
120
140
160
180
1970 1975 1980 1985 1990 1995 2000 2005
Pu
rch
asin
g p
ow
er
(197
1 $/
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)
Purchasing power
Regressed value
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Oil Meal
Edible Oil:•Vegetable oil•Margarine•Ingredients
– Lecithin– Sterols– Vitamin E
LivestockFeed:
Soyfoods: •Full flour•Tofu•Soymilk•Soy dairy •Soy sauce•Okara
Bioproducts:•Biodiesel•Lubricants•Plastics•IntermediateChemicals•Fatty acids
Edible:• Ingredients – flour – concentrate– isolate– TVP
New foods with soy:•Modern meat analogues•Nutrition bars/ drinks•Cereals•Bread and baked goods•Pasta
Typical uses
Advancing uses!
Traditional food use
SoybeansSoybeans
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Support new demand for soy• Soy protein as a food ingredient
• Soy oil based bio-products
Protein price
Health benefits
Functionality
Where the price is better vs. petroleum based products
Equal functionality
Buyer interest / demand
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Evolving Soybean Utilization
2002 2020
Soy flour ingredients
Enzymes
Bio-chemicals
Soyfoods
Seed Production
Export Other
Food Grade Export W. Europe
Food Grade Export Asia
Commodity Crush
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Capturing Value of Change
We will capture this value by building on our advantages:
1. Superior IP system2. Global perceptions of Canada3. Superior products4. Nearness to markets
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Opportunity for Companies…
…with a strategic vision of what is possible
…that see the future of food and/or industry
…interested in power of the bean
…that recognize the advantages of Ontario
…that aggressively build on our strengths
Researchers
Farmers
Handlers Manufacturers
Distribution
Consumers/Buyers
Value Added Processing
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Interested?
Ontario Soybean Growers
www.soybean.on.ca
Soy 20/20
www.soy2020.ca