It’s easy to find numbers that show that global demand for U.S. soybeans, meal and oil has increased since the birth of the National Soy Checkoff 23 years ago. What isn’t as easy to calculate is how much that additional demand that the checkoff has helped bring about adds to U.S. soybean farmers’ bottom lines. That’s why the National Soy Checkoff funds return-on-investment studies that measure the impact.
The latest study shows that there is a positive return of five dollars and twenty cents for every dollar spent. That calculates into about five percent of an average U.S. soybean farmer’s cash receipts that are the result of the Soy Checkoff program.
Dr. Gary Williams, an agricultural economics professor from Texas A&M University who conducted the most recent soy-checkoff analysis, explains what the Soy Checkoff’s investments have accomplished.
“By not only shifting out demand but also enhancing production we’ve been able to create demand and then feed that demand and sort of minimize Brazil and Argentina’s opportunities in those markets.”
For more information on the soy checkoff roi study, visit www.unitedsoybean.org.