P105-B Industry! Bright Soybeans Future As Local Demand Surges

Soybeans production, a fledgling and neglected industry in the country, faces a very promising and bright future as the demand is expected to surge to about 3-million metric tons in the next few years.
In an article posted on businessmirror.com.ph on April 11, 2022, Jasper Y. Arcales projected that the country’s Soybean meal imports could reach 2.725-million metric tons by 2023.
“The country’s soybean meal imports in market year 2022-2023 could increase by 3 percent year-on-year to 2.725 million metric tons (MMT) due to stronger hog and poultry feed demand, an international agency said,” Arcalas wrote.
This means that with an estimated conservative landed cost of P35 per kilo, an importation of 3-million metric tons has a value of P105-B.
This is the amount of money which could be earned by local farmers had we focused on the production of this very important commodity needed by the food and feed processing industry.
Aside from farmers in Caraga Region, especially in Surigao del Sur and Agusan del Sur, and our private sector initiative here in Central Mindanao, Soybeans farming had not really taken off to reach an industry level.
Sayang ang opportunities but we are fast catching up.
Today, we are starting our 3rd cycle of Soybeans seed production while perfecting our planting protocols to hit the target of 2.5-metric tons yield per hectare.
In some of our areas, we have already reached 2-metric tons but in other areas, our performance was dismal.
I believe that with a consistent approach at studying, learning and applying the lessons we learned through actual farming, we will be able to hit our target.
We have done this with Sorghum where we now consistently harvest 5-metric tons and higher per hectare after almost a year of disastrous operations.
At this point, I believe government should already step in and provide support to farmers who will venture into Soybeans farming as well as Sorghum.
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