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Soybean Farmers Contribute $1.3M for Soybean Meal Export Expansion

by Geraldine S.
08/08/2024
in Global Trade

On July 30th, soybean farmer leaders presented a ceremonial check of $1.3 million to the Port of Grays Harbor, supporting the Terminal 4 Expansion and Redevelopment Project. This contribution was made during the Soy Transportation Coalition’s summer board meeting held in Vancouver, Washington, where participants visited export facilities in the Pacific Northwest, a region responsible for 25% of U.S. soybean exports.

AGP (Ag Processing Inc.), a cooperative based in Omaha, announced in March 2022 plans to expand its soybean meal export terminal at the Port of Grays Harbor. The project, expected to be operational by late 2025 or early 2026, includes additional storage at Terminal 2 and a new ship loader at Terminal 4. These upgrades will double AGP’s annual soybean meal exports from 3 million to over 6 million metric tons. To support this growth, the Port of Grays Harbor will enhance its infrastructure, including 40,000 feet of new railroad track, a new fendering system, a stormwater treatment facility, and additional cargo storage area. These improvements aim to efficiently manage the increased export volume while minimizing traffic impact on the local community.

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The $1.3 million contribution from organizations such as the United Soybean Board, the Soy Transportation Coalition, and several state soybean boards helps offset pre-engineering, design, and site development costs for the port’s expansion project. The funding, announced in fall 2022, was ceremonially presented during the coalition’s 2024 summer meeting.

Speakers at the check presentation included representatives from the Port of Grays Harbor, AGP, and soybean farmer organizations. They emphasized the importance of investing in infrastructure to connect U.S. soybean production with international markets, thereby enhancing the profitability and global competitiveness of American farmers.

The ongoing expansion of soybean processing facilities across the United States, driven by demand for soybean oil in renewable energy, presents both opportunities and challenges in accessing new markets for increased soybean meal production. The investment in the Port of Grays Harbor exemplifies the commitment of U.S. soybean farmers to strengthening their export supply chain.

The Port of Grays Harbor also received a $25.5 million grant from the U.S. Maritime Administration’s Port Infrastructure Development Program in October 2022, further supporting the Terminal 4 project. The soybean farmers’ financial commitment bolstered the port’s grant application, highlighting the project’s significance for enhancing U.S. soybean meal exports.

Find the best supply chain logistics news at The Supply Chain Report. Free international trade tools are available at ADAMftd.com.

#SupplyChainNews #NewsUpdate #SoybeanExports #InfrastructureInvestment #AgricultureNews

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