Soybean producers are pooling resources to combat rising transport costs, compounded by heavy rain and flooding, in a move which could ultimately benefit food manufacturers, according to an industry analyst.
Touchi, a fermented soy bean extract that has been used for centuries in Japan, China and other parts of Asia may be available to European consumers if a European Union Novel Foods application is approved.
Agro-chemical giant Monsanto has ended a long-running dispute with
Syngenta over soy and corn seeds by entering into a licensing
agreement that will allow its Swiss rival to use its technology in
its soy seed activities.
The genetic traits of soybean varieties that are the most resistant to pests or produce the best oil will be stored in a new 'library' coordinated by the US Department of Agriculture's Agricultural Research Service (ARS).
Solae has said that ingredients companies will have to continue
their efforts to pass on rising input costs through 2008, but the
relatively lower increases in soy costs compared to other proteins
could provide a business opportunity.