China remains the top buyer of U.S. soybeans, but the U.S. Soybean Export Council continues to explore new markets. According to board member and Kansas soybean farmer Lance Rezac, India is starting to allow imports of GMO soybean meal. “India’s placed one order so far. We expect more purchases and for India to become a bigger market in the future,” says Rezac. “China buys 60 percent of the soybeans exported in the world, so you can’t ignore them, but we have to build demand in other areas, too. We don’t want all of our eggs in one basket.”
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