The American soy product boom is starting, and some say there is no alternative.
“The Soybean Exports are in full swing in the United States, and we have had record volumes of soybeans for many years now,” said Joe Giannascoli, an agricultural economist at the University of Minnesota, in a statement.
“As the boom continues, we are seeing new varieties emerge with higher yields, higher protein, and higher nutritional value,” he added.
“This has made the soybean an attractive commodity, and soybean futures prices are currently trading above $50 a tonne.”
The U.S. soybean market has been growing at an impressive rate.
But there is a growing body of research suggesting that the boom may be slowing down.
In an effort to combat the rising demand for soybeans, the U.N. Food and Agriculture Organisation (FAO) has said that it is likely to phase out soybean farming by 2050. And the U