Ag Supply Chain Asia Virtual Conference Prompts $460 Million In Grains, Oilseed Sales

The Agricultural Supply Chain Asia 2021 conference hosted by the U.S. Grains Council (USGC) and the U.S. Soybean Export Council (USSEC) boasted transactions and negotiations of 1.3 million metric tons (80 million bushels) of U.S. agricultural products with an estimated futures value of $460 million, including 248,500 metric tons (9.8 million bushels) of U.S. corn and 231,000 metric tons (36.8 million bushels) of distiller’s dried grains with solubles (DDGS).

The event, held virtually from January 26-28, 2021, brought together nearly 500 guests from 31 countries in Southeast Asia, including 276 importer participants representing 179 companies and 87 exporter participants representing 35 trading companies. Attendees were able to network via three virtual meeting halls featuring 32 U.S. exporters and partner organization booths.

The North Dakota Soybean Council, South Dakota Soybean Research and Promotion Council, and the U.S. Department of Agriculture’s Foreign Agricultural Service (USDA-FAS), with which both USGC and USSEC participate as cooperating organizations, sponsored the event.

Terry Wehlander, North Dakota Corn Council chairman and a USGC Asia Advisory Team member, shared his insights on the 2020/2021 corn crop outlook, and Deb Gangwish, Nebraska Corn Growers Association director, and USGC Asia Advisory Team member, reported on U.S. corn growers’ perspectives on new corn crop production and supply. In addition, USGC Manager of Global Trade Reece Cannady offered highlights from the latest 2020/2021 U.S. Corn Harvest Quality Report. USGC Assistant Regional Director for Southeast Asia and Oceania Caleb Wurth presented alongside aquaculture consultant Ronnie Tan results to date for their aquaculture program and shrimp feeding trials in the region. Other sessions focused on the U.S. and global supply chain for agriculture, policy, economic issues, and the weather.

At the conclusion of the conference, a survey was taken to gather total U.S. sales during and resulting from the event. A total of 1.3 million metric tons of U.S. agricultural products with an estimated value of $460 million were transacted and or negotiated at this year’s event, according to attendee reports.

The Council invested $58,214 in Market Access Program (MAP) funds to support this virtual event. As a result, event participants documented 515,500 MT of U.S. corn and DDGS purchases valued at $99.5 million dollars, which results in a return on investment (ROI) of $1,709 per $1 of MAP funds invested.