Sri Lanka major importer of U.S. Soybean meal in South Asia

On Sep 5, 2024

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Sri Lanka is one of the major importers of U.S. Soybean meal in South Asia and this is likely to continue while other countries in the region will also see an upward trend with shifts in demand for protein-based diets, highlighted Soy Connext summit held from August 19–21, San Francisco, organised by the U.S. Soybean Export Council (USSEC) where a trade team from the country attended.

Sri Lanka requires somewhere between 210,000-240,000 MT of soybean meal in animal feed production in poultry which is the leading livestock industry in the country supplying animal proteins to the nation.

The U.S. soybean meal imports to Sri Lanka were estimated at USD 101 million in 2023. The textured soy requirement is equal to about 12,000 metric tons (MT) per year. The major non-genetically modified organism (GMO) soyfood product in Sri Lanka is soy nuggets.

USSEC Director of Sustainability, Abby Rinne said; “U.S. Soy is different from soy in other regions for several different factors, primarily with farmers having focused on sustainability for over a century. From the times of the Great Depression, the industry has looked at soil conservation measures and the development of agencies by USDA to focus on working with landowners on soil conservation has had a significant impact.”

U.S. Soy enjoys more than 70 per cent market share in the country. In July last year, New Anthoney’s Farms adopted the ‘Fed with Sustainable U.S. Soy’ label, making them the first in the entire South Asian and Sub-Saharan Africa region. Ten other producers followed suit and signed licensing agreements.

“Despite its smaller industry size compared to its neighboring countries, Sri Lanka’s poultry and livestock industry has continued to uphold and increase its quality, efficiency and capabilities, with significant investments and efforts towards adopting sustainability across its entire operations and supply chain,” said USSEC Regional Director for South Asia and Sub-Sharan Africa, Kevin Roepke

This year’s Soy Connext recognised a few of the companies including Sri Lanka’s New Anthoney’s Group and Happy Hen (Switz Lanka).

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