There is a surge in demand for plant-based protein, and soybeans can deliver that: Jim Sutter, CEO, USSEC

Shahid Akhter, editor, ETHealthworld, spoke?to?Jim?Sutter,?CEO,?US Soybean Export Council, to find out about the potentials of?soybean in providing?healthy diet by way of protein.

?Soy: Global Trends

I think soy is one of those products that is quite sought after because it delivers protein, and it delivers oil. Soybean is roughly 80% meal and 20% oil. The meal is where the protein component is, and the oil is obviously the oil. And if you look at what's happening around the world and what's been happening over the last 20 years, global demand has about doubled for soy over that period of time. And I think it's because people, as their situation in life improves—their economic situation, their ability to buy more food—maybe they've urbanized, they've moved from the country, so they have to buy food, they want a little more meat, and they want some cooking oil to use with that. And that has helped double the demand for soy. I think it's largely awareness.?People need to become aware and they need to become educated about the diets that they eat.

It's not just a question of getting enough calories; it's a question of getting enough nutrition, and I think India's becoming aware of that, and many other countries in the world are becoming aware too. People here in the US are becoming aware of that.?We're all just becoming smarter, and that has helped the younger generations. I see so much interest from millennials and Gen Z people in knowing more about the food that they eat and whether it's good for their bodies or not

Malnutrition & Protein deficiency:?Can soy help ?

I think people of all walks of life, of all economic stratus, will have the desire to make sure, especially that they're feeding their children the right amount of protein. The?demand growth is going to continue. I think that?will?be a growing demand for protein in many places around the world, particularly in markets where consumption is relatively low, people will want to consume more, and whether that's chicken, fish, pork, or plant-based meat, I think soy can be a part of all of that. And I think, there's going to be growing demand for the oil. People want more cooking oil to use in their products. And also, there are some places around the world where some vegetable oils are used as an energy source. And I think that will also shore up demand.

Soy:?US contribution

I'm pretty optimistic about demand growth for soy. I like to think of the US as really a leader in the value of soy because we've done a lot of work looking at the various constituents that make up our soy versus soy from other origins, and we have some strong information in terms of amino acid balance and various qualities of the soy. We really have ideal growing conditions here. Mother Nature brings us cold weather, the plants mature, a frost happens, the plants actually die, and then our farmers harvest soybeans. So, they have fully matured. In some other places—more tropical countries—that process doesn't happen. So, soybeans never naturally die, and there's a little more damage associated with that. So, I think that the US contribution is good from that perspective.

Soy: Demand and production

And in terms of being a global supplier, 60% of what we produce goes on to the global market. And I think the reliability of our soy export supply chain, whether it's the reliability of the companies or the infrastructure we use to do the exports, is really good. And I think the US is in a strong position globally in the soy industry. I think India in terms of soy, I mean India is the fifth largest producer of soy in the world. And I think they're an important producer, and I have every expectation they will continue to produce soy, which will probably grow.

Soy: Indian consumption

As I look at India, I think they're probably just about to really see growth in demand for soy, primarily for poultry and aquaculture production but also for these plant-based proteins. I know there are some that consume meat, some that don't consume meat, there are holidays, and there are periods of time when people don't. But I think soy has the capability of delivering protein in any form that people want. And I think also that India is recognising that there is a need for the population of India to consume more protein.

Soy: The future

I think that people will continue to want to provide better nutrition for their children than they had for themselves. I think the world will continue to grow. I mean, we're talking about 10 billion people by 2050; who knows exactly what that number will be, but it's certainly going to grow from where it is today. So, we'll have more people. We'll be feeding those people in a better way. The?demand will certainly be going up for proteins and oils, and soybeans can deliver on that.