Demand for High Oleic Soybeans Far Exceeds Supply

United Soybean Board (USB) leaders say the demand is great for high oleic (HO) soybeans, but there are challenges in meeting the demand.

Board member Chuck Prellwitz from Wisconsin says the food industry wants high oleic soybean oil because of the health benefits and superior cooking qualities. In addition, there are industrial users who also like the product and can afford to pay more. Prellwitz says the industrial demand is high because they can do things with high oleic soybean oil they cannot do with regular oil. “There’s such a demand for it, so that’s why I’m interested in promoting as much production as we can get of HO soybeans. The only way to ever meet the demand is to increase supply and get the oil on the market for the people who want it.”

However, Prellwitz notes, not enough farmers are growing the HO soybean varieties yet. There are several stumbling blocks currently that are holding production down. He says those stumbling blocks must be removed, but we are probably two years away before that is a reality. One of the USB-funded projects is to expand the available seed varieties and maturity lengths as well as ramp up seed availability.

Editor’s Take:

High Oleic soybean oil is relatively new and genetically modified, recently federally approved for production to expand. It is highly desirable as a cooking oil with virtually no trans-fat and increased health benefits. In addition, the lubricity of HO beans is also greater than typical soybean varieties, thus, making it more desirable for industrial uses as well. Farmers generally will receive a premium for growing HO beans, at least in the early stages of this developing market. Whether the premium is incentive enough remains to be seen. That said, for those who do grow the HO beans they will likely have more money to purchase or lease a new truck from CAD members!