Oil sales managers share insight about high oleic soybean oil
In the U.S., where gathering around a table for food and conversation is a big part of our culture, it makes sense that food companies are looking at better options for oil. What they found is that high oleic soybeans produce a food-oil innovation.
Customers come to Jeff Kazin, Cargill’s general manager for dressings, sauces and oils, looking for a functional oil, and he can tell them about the benefits of high oleic soybean oil. “High oleic soybean oil is highly stable and has an extended shelf life,” says Kazin. “We expect steady but slow growth for the oil over the next several years.”
“High oleic soybean oil can last two to three times longer in a fryer than traditional soybean oil due to higher heat stability,” Matt Porter, refined oil sales manager for Perdue Agribusiness, adds. “It also has a neutral flavor. We are confident about future demand for this product.”
In order to meet customers’ needs, researchers have used biotechnology to create a soybean with a higher functioning oil content. Additionally, this helps farmers to stay competitive.
“The high oleic soybean must yield similarly to other products for farmers to want to plant it,” says Kaizen. “Biotechnology becomes an important part of the profitability equation to ensure that they yield competitively to ensure farmer profitability and customer satisfaction.”
High oleic soybeans are also a domestically-produced product that many food manufacturers prefer.
“Soy is produced in the U.S. and can be hedged on the Chicago Board of Trade,” says Kazin. “Customers appreciate local supply chains and the ability to lock in cost months, or even years, forward.”
“High oleic soybean oil will have a low supply chain risk,” says Porter. “The oilseeds used for other similar oils are grown in a relatively small area with a lot of weather variability and additional transportation concerns. With high oleic soybeans eventually grown across the U.S., customers have better access to the product, which reduces supply-chain risk.”