Potential Economic Value of Growth of U.S. Aquaculture to U.S. Soybean Farmers

The Soy Aquaculture Alliance (SAA) works to create new opportunities for soybean farmers within the domestic market of aquaculture. SAA recently funded a study to look at different aspects of how U.S. soybean farmers could gain potential economic value associated with U.S. aquaculture growth. 

Information source: Soy Aquauclture Alliance press release

SAA Executive Director, Andy Tauer, commented, “This study is vital to our organization, as it shows real opportunity for both the soybean and aquaculture sector. Looking for new profitability is a continuous effort, this study just proves that aquaculture using soy will not only benefit the farmers, but also the communities where aquaculture is added.”

The study found that demand for soybeans and soy products would increase significantly if the recommended diet inclusion rates were maximized. The report also shines a light on if the catfish sector was able to recover their production numbers from 2003, the demand for domestic soybeans would be 74% greater than that of what catfish currently intake today.

SAA Board President, Jerry Bambauer, stated, “As an organization we’ve set our sites on finding a way to benefit both industries, but ultimately, grow the domestic demand for U.S. soybeans. We truly believe that soybeans are a real alternative for fish meal in diets, and if we find the right rate, we can see a mutually beneficial industry relationship – much the same as what we have with terrestrial livestock.” 

Bambauer also noted that, ”At the end of the day we want to find new markets for our products. Aquaculture has a real opportunity to grow in the U.S. Building together is a great opportunity for us both.” 

Read more about the benefits U.S. soybean farmers could reap if U.S. aquaculture grew at: https://www.soyaquaalliance.com/research-reports.

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