With the acreage planted to high oleic varieties growing each year, a prominent soybean processor is committing to the success of high oleic varieties by strengthening its ability to market the crop’s high-functioning soybean oil. Perdue Agribusiness, based in Salisbury, Maryland, is constructing new tanks to store high oleic soybean oil.
Such a commitment showcases the confidence soy processors have in the future success of high oleic soybeans – a reason for soybean farmers to be excited.
“This is a fast-paced, several-million-dollar commitment on our part,” says Gary Cordier, Perdue AgriBusiness vice president of soy processing. “High oleic is not going to be a boutique oil – this will be a mainstream cooking oil that everyone benefits from.”
High oleic soybean oil will benefit all farmers by generating demand from new markets and recapturing lost market share. To learn more about high oleic soybeans or to become a grower, farmers should contact their local seed company or processing representative.
Cordier emphasized the opportunity for growth offered by high oleic for soybean farmers due to high oleic’s ability to regain lost market share. For this reason, the soy checkoff and industry partners are committed to advancing high oleic varieties.
“Soy processors have seen big changes in the last 10 years with trans-fat issues being raised,” Cordier explains. “High oleic soybeans are an opportunity to win back lost market share from other oilseed crops while providing a cost-effective vegetable oil for our customers.”
Perdue accepts high oleic soybeans from area farmers, and markets high oleic oil to food industry customers with growing demand for the high-functioning oil.
The processor is focused on quickly adding storage as a step to increase high oleic processing capacity and facilitate the growth expected with marketing high oleic soybean oil.
The tanks are expected to be completed in January and will enable the processor to more efficiently provide high oleic soybean oil to its customers as the industry looks toward future increase in demand for high oleic soybean oil.
“We’re proud to hear positive reviews from the food industry about our service with high oleic, and adding new storage will only allow us to get better,” says Cordier. “Perdue is making an investment with these new storage tanks and has been quick to be an early adopter – we think that’s going to pay off in the long run.”