Growth Markets

High oleic soybeans growth careful and calculated

The soybean industry anticipates the need for 18 million acres of high oleic soybeans by 2023 to meet potential demand. Each year, the number of high oleic soybean acres increases significantly in those areas where they are currently grown. Before broad-range availability of the varieties can be realized, the seed companies providing the trait need to receive additional global regulatory approvals. Those approvals allow for easy handling of the soybeans and allow them to be shipped to other countries, which is very important because more than half of U.S. soybeans are exported.

“We are experiencing strong growth from year to year, and in 2015 we will see that continue with expansion in our established supply chains in Ohio, Indiana and the Delmarva areas,” explains Russ Sanders, director, DuPont Pioneer Food and Industry Markets group, which markets Plenish® high oleic soybean varieties.

The delay in the high oleic approvals isn’t a result of concerns about the product’s performance or safety, but rather the political dynamics of the European Union biotech regulatory process.

“Plenish is approved in all other major soybean markets, including China.  In the EU, however, we are waiting for approval along with 11 other biotech traits that are in a similar stalled position, including products for multiple crops for several growing regions. We continue to be hopeful that the gridlock will be resolved sometime in 2015, which will enable full scale commercialization, “says Sanders.

Mindy Whittle, Monsanto’s soybean industry affairs lead, says Monsanto is preparing for increased production pending Chinese and EU approvals for the high oleic trait found in its Vistive® Gold soybean varieties.

“We are focused on seed production and small amounts of growth in coordination with processors who are capable and committed to a high degree of stewardship,” says Whittle. “We are continuing a robust breeding program so that we will have plenty of high oleic seed for 2016 planting, when we anticipate global approvals.”